The view is a little negative for HDFC Bank; 1500 to 1480 is the immediate target on the downside. Keep your stop loss if you are on the short side of the trade at 1560, says Rajesh Palviya, Axis Securities

The decision is the latest sign of Indias growing appeal to international investors as the countrys economic growth outstrips peers, its geopolitical influence grows and global companies including Apple Inc. look for alternatives to China.

There are several reasons for surging banking index including strong credit growth, relatively lower valuations and commendable work on asset quality front.

Nifty PSU Bank was the top-performing index on NSE in an otherwise dull session on Monday, with 11 of the index constituents at fresh 52-week highs. Over the longer term, independent market expert Sandip Sabharwal does not recommend to keep on buying PSU banks as from this quarter or next quarter onwards, we will start seeing some uptick in NPAs and a squeeze in margins which was not there for the last two quarters.

We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout.

PSU banks are catching up on the valuations, and the discount between PSU and private banks could narrow further over the medium term, analysts said.

"Our gross NPA is also coming down. It has come down to 4.48% this quarter and we will continue to see the declining trend in the remaining quarters as well and with all this in place, the ROA will improve in the coming quarters. But as far as quarter or the year, the number which you have specified that internally we have not kept any target, our target is to improve our operating performance on a quarter-on-quarter basis."

On September 8, the public sector lender announced in an increase in lending rates by 5 basis points across tenures

The Reserve Bank of India's decision to allow banks to offer pre-sanctioned credit lines on the Unified Payments Interface (UPI) system will contribute to the growth of transactions, according to UCO Bank MD and CEO Ashwani Kumar. UPI transactions have already reached 10 billion per month and are expected to reach 20 billion in the next 18-24 months.

A decisive move below 19,000 is likely to drag Nifty down to another lower support of 18,500 levels.

Eight stocks have corrected more than 50% from their respective 52-week highs, and three of the biggest losers in this list are Adani Group firms - Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. These stocks were down 62-84% from their 52-week highs. While Adani Wilmar was down 55% from its 52-week high, Adani Power corrected more than 33%, and Adani Enterprises about 39%.

The stock market witnessed several noteworthy stocks crossing their 50-day Simple Moving Averages (SMA), indicating strong market momentum and potential bullish trends.

State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in loan and deposit growth in percentage terms during the first quarter of the current financial year. The deposit and advances of the Pune-based lender recorded nearly 25 per cent rise, the highest by any public sector bank during the April-June quarter.

Delhi High Court has allowed interim relief to Ratnakar Gutte, a Maharashtra politician and director of Gangakhed Sugar & Energy, against the banks' declaration of his accounts as "fraud". Gutte filed a petition to have the judgement regarding the declaration scrapped under the Reserve Bank of Indias guidelines. The banks were ordered to file their say in the matter and the declaration will be stayed until then.

Pune-based Bank of Maharashtra posted the highest NIM of 3.86 per cent, followed by Central Bank at 3.62 per cent and Indian Bank at 3.61 per cent during the quarter.

Initially, UCO Bank will join only the retail segment of CBDC initiatives. The bank, Kumar said, is also planning to expand its current and savings account deposits significantly.

UCO Bank has lost 5.23 percent of its value over the last six months.

Two of these banks are from Russia, he said. "We will soon approach the Reserve Bank of India for approval," he said. Uco has already opened rupee vostro accounts for four Russian banks while it received regulatory approval for opening accounts for eight more overseas banks including six from Russia.

UCO Bank, the Kolkata-based state-owned lender, has reported an 80% YoY jump in Q1 net profit to Rs 223 crore ($30m). The positive result was largely due to a decline in bad loans. In Q1 2022, the bank's total income increased to Rs 5,857 crore from Rs 3,797 crore.

UCO Bank Q1 earnings: The gross non-performing assets of the bank declined/jumped to 4.48 percent from 7.42 percent in the year-ago quarter

Jag Mohan Garg, Chairman & Managing Director of Tirupati Infraprojects Pvt. Ltd, has been arrested for allegedly defrauding a consortium of banks of Rs 289.15 crore. The fraud caused losses to Bank of India, Union Bank of India, Canara Bank, Bank of Baroda & UCO Bank. The Central Bureau of Investigation (CBI) conducted searches at Garg's premises earlier, where several incriminating documents were recovered. Garg has been remanded to police custody until July 17, 2023.

​I do not think that we would see a close below 44,500. In fact, 45,000 on an immediate basis is also good support and we see on an intraday basis Bank Nifty took support at 45,000 and has bounced back again.

I think we like Bank of Maharashtra. That is one counter which is not in everyone's top of the mind and we believe that it has got very-very strong fundamentals.

A special court has set the date for a trial to begin in a £33m loan fraud case brought by IFCI against builder Era Housing and developer, bosses and a series of additional firms and individuals. The charges were filed by the Central Bureau of Investigation, which accused the defendants of misleading IFCI to distribute term loans and subsequently diverting the funds for purposes other than those granted.

Several Nifty 500 stocks including UCO Bank, Uflex, V-Mart Retail, YES Bank, and Zee Entertainment Enterprises (ZEEL) are trading at a significant discount from their 52-week highs, with potential investment opportunities based on placement on the technical charts and current momentum. Despite discounts, the companies include strong players such as accomplished retail chain V-Mart Retail, banking institutions YES Bank and UCO Bank, and leading media and entertainment company ZEE. Before investing, careful analysis and consideration of individual investment goals are recommended.