Rahul Malani of Mirae Asset Sharekhan notes Kotak Mahindra Bank’s weak quarter was expected, with a potential one-off provision. He anticipates improved core operating profitability due to strategic levers. While SBI faces core operating profitability pressure, its well-positioned balance sheet and treasury gains should sustain ROA around 1%.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.