Banking stocks – SBI and Axis bank on NSE

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Look back at the year 2012 and consider the performance of banking stocks. Do you know the Indian bourses saw an uptrend by several percentage points owing to excellent feat by banking stocks followed by the automobile sector? Yes, bank stocks were the best performers in sensex with a return of 55 percent, an almost similar feat exhibited in the nifty as well.
 
The honcho in the Indian banking industry is undoubtedly State Bank of India. Ever since its inception, it has been dominating its segment. Statistics reveal this govt. banking firm accounting for nearly 20 percent of the Indian banking system's deposit base besides getting almost 20 percent of the credit portfolio. Volatility of the market does affect banking stocks and SBI on NSE is no exception. Though a dominant player, it still projects a big price change difference week after week. According to the last 52-week price change dynamics, SBI NSE stock price was perched lowest at Rs. 1802.30 and highest at Rs. 2551.70.
 
State Bank of India’s 3rd quarterly results will be declared in February. Its second quarterly results failed to whip up support amongst investors given their high expectations. Net profit increased by 30 percent at Rs.3,658.14 crore from Rs.2,810.43 crore during the same quarter the previous year. With investors again positively hoping, SBI NSE stocks are seeing trending. It is to wait and watch till the quarterly results are declared. For long term investment these stocks are a good bet, but for intra-day trading, it is risky, which is applicable for all stocks irrespective of the segment. The investor should follow a very cautious approach, keeping a close watch on sector performance, the day’s low-high price statistics, difference between bid and offer price, and related paraphernalia in order to experience a win-win situation.
 
Axis Bank on NSE is performing like any other banking stocks. The third best performer amongst the top ten banks in India, the private bank registered 22.22 percent rise in its net profit at Rs 1347.22 crore for third quarter ending December 31, 2012. During the same quarter a year ago, profits were at Rs 1102.27. Total income increased by 19.06 percent. So, there are reasons why you should invest on Axis Bank NSE stocks. According to the last 52-week performance statistics, price of Axis Bank NSE stock was perched lowest at Rs.922 and highest at Rs. 1516.05. As aforementioned, be cautious if you are investing for the short term.
 
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Riya Dutt has 26 articles online and 1 fans

 

Riya Dutt is an Economics analyst and writes reviews on the India Stock Market. The above article is about SBI NSE and Axis bank NSE.
 
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Banking stocks – SBI and Axis bank on NSE

This article was published on 2013/02/14