The IDFC First Bank shares today hit their 52-week high of Rs 100.70 on the NSE around 9:50 am and have remained undefeated for seven sessions in a row including today. The stock has gained nearly 11% during the rally.

The additional rate component, applicable to resident senior citizen term deposits, varies between 0.25% to 1% over the rate applicable to normal rates depending on the bank.

Both ICICI Bank and Canara Bank are likely to issue 10-year bonds. Bidding for the latter's bond sale may take place next week, sources said.

"Reliance Industries has recently experienced a breakout on the daily chart, accompanied by a significant surge in trading volumes. This breakout suggests renewed bullish momentum in the stock.The momentum indicator RSI has provided a positive signal by reversing from the oversold territory and giving a positive crossover, confirming a potential buy signal for Reliance."

Canara Bank on Monday launched UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project. Canara Bank is the first Bank among public and private sector banks to introduce this feature in Banks CBDC mobile app called 'Canara Digital Rupee app'.

Canara Bank CEO K Satyanarayana Raju said the bank is confident of maintaining a Net Interest Margin (NIM) of around 3% for the current financial year, despite higher interest expenses. He said around 52% of its portfolio is MCR-linked, which is providing good interest yields on advances. Raju added that while the cost of funds had peaked in the current quarter, the bank was focussing on its Current Account Savings Account (CASA), which has contributed Rs 3.3bn ($45m) in the last four months.

India VIX was down by 0.59% from 11.53 to 11.46 levels on Monday. Volatility sunk lower and is hovering near its lower band which may support the bulls near immediate support zones. On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes while the maximum Put OI is placed at 19400 and then towards 19300 strikes.

Fitch Ratings has downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a "steady deterioration in standards of governance" over the past two decades. The rating was cut on Tuesday one notch to AA+ from AAA, the highest possible rating.

Rekha Jhunjhunwala, an ace investor, has increased her holdings in Tata Communications during the June quarter, taking the total holding to 1.84%. The company is a part of the Tata Group and facilitates the digital transformation of businesses globally by providing connectivity, cloud hosting, security solutions, and media services.

The meeting was attended by the top officials of 21 banks which included the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Central Bank of India, said the official statement.

Post IPO, the dates of which are not yet announced, the stock would be listed on BSE. The IPO includes a reservation of equity shares for subscription by eligible employees.

However, a non-stop rally of 900 points from 18600 level and a PCR ratio of around 1.50 suggest a slightly overbought condition for the market. The immediate resistance is visible at 19500; a failure to move above 19500 on a sustained basis might call for profit booking in the market.

"The guarantee has been approved by the department of financial services (DFS) earlier this week. It is now expected that NARCL will complete the take over of SPML debt by next week, the first takeover by the bad bank in more than three months," said a person aware of the process.

"About 25% of our book is retail loans within which there is now a potentially growing book for micro finance loans. In the last three quarters we have acquired about ₹470 crore of micro finance loans where the recovery has been even better than our projections. We expect this pace to continue," Manhas said.

“I would not really want to brush all NBFCs in a broad stroke and say that banks will be worse off compared to NBFCs in a falling rate regime. Banks still have a decent runway to go. Buy some of the NBFCs which are doing a good job in either their credit segments or credit quality will have some advantage of falling cost of deposits.”

The Mahila Samman Savings Certificate, a small savings scheme for women and girls, was introduced by Union Finance Minister Nirmala Sitharaman in the Union Budget 2023–24.

Looking at the data set up, especially in today's session, some profit taking was there at higher levels because most of the call writers were aggressive at 19,600, 19500 strike on the call side and so it clearly creates some pressure on the index.

Looking at the data set up, especially in today's session, some profit taking was there at higher levels because most of the call writers were aggressive at 19,600, 19500 strike on the call side and so it clearly creates some pressure on the index.

About 72% of Nifty50 stocks are either nearing or in the overbought region, with IT, Auto and Banks being the top 3 sectors by weightage in Nifty that are overbought. However, overbought signals seldom signal a reversal in a trending market, as much as they do in a sideways market.

The Nifty faces a crucial resistance at 19,500 for it to continue its upward momentum. Rohan Shah, technical analyst at Religare Broking, advises traders to go short only if Nifty Bank fails to hold the support zone of 44,550-44,450. He predicts that the Nifty IT index could rally further towards 31,500 levels in the near term

Several Indian stocks, including Canara Bank, State Bank of India, Oil & Natural Gas Corporation, Indian Overseas Bank, Bank of Maharashtra, Punjab & Sind Bank, Welspun India, Hindalco Industries, Vaibhav Global, and Gujarat State Petronet, crossed their 50-day Simple Moving Average (SMA) on July 3, 2023. The 50 SMA is a widely used technical indicator that suggests a potential short-term uptrend in a stock's price. Investors and traders often pay attention to the crossing of a stock's 50 SMA as it may present potential opportunities.

At a meeting convened by the ministry on June 28, to discuss ways of enhancing the availability of export credit to MSME exporters, Goyal asked the Indian banks to ensure enhanced credit to MSMEs to achieve the target of $1 trillion merchandise exports.

#CANBK Chart analysis for Positional Trade Time frame - 1DTriangle pattern breakout seen in the Chart Good potential for upside moveMarket

Mahila Samman Savings Certificate, 2023 scheme was announced in the Union Budget FY 2023-24 by the Central Government to provide financial security to every girl and woman in India.