Market strategist Rohit Srivastava suggests Indian equity markets are nearing a short-term bottom after a four-day correction. He anticipates a resumption of the upward trend as short-term indicators become oversold. Srivastava also notes ongoing rotation within the banking sector, favoring PSU banks and NBFCs due to their stronger growth prospects compared to private banks.
IDBI Bank Q2 results: Net profit tanks 39% YoY to Rs 2,205 crore; NII dips 49% YoY
IDBI Bank reported a 39% year-on-year profit decline to Rs 2,205 crore in Q2 FY27, impacted by a one-off gain in the previous year. Excluding