PSU banks steal the show this week; UCO Bank surges 45%
PSU banks stole the show, extending their gains. UCO Bank surged over 54%, whereas Indian Overseas Bank gained 30%. Meanwhile, Punjab & Sind Bank gained 20%, and Bank Of Maharashtra and Central Bank of India added 13% each.
Midcaps lead Dalal Street sell-off as risk appetite subsides further
“Indian markets will continue to dance to global cues and the next two-three months will remain volatile,” said Mayuresh Joshi, head equity research, William O’Neil India. “The hawkish tone of global central banks indicates that they have been behind the curve in fighting inflation.”
Wall Street ends lower for third straight day as recession worries rise
New York Fed President John Williams said on Friday it remains possible the U.S. central bank will raise rates more than it expects next year