BoI, BoB and PSU Bank stocks to be in focus today

Bull market or bear market?

Markets are likely to remain under pressure given the weak closing with an advance-decline ratio of 2:3 and mounting trade tensions between the Russia and US.

Stocks likely to be in limelight today?

Bank of India, Bank of Baroda and other PSU banks along with a few fertiliser companies like Chambal Fertilisers could be in focus.

Sectors likely to impact market today?

PSU Banks could be a ticking time bomb due to the announcement of the latest defaulter list for IBC. Additionally, fertiliser companies could experience profit booking and some fresh buying.

Your mid-term view?

Markets could enter profit booking mode as Nifty has continuously made new highs. The onset of a corrective mode for the Indian indices is expected soon.

What drove markets on Tuesday?

Tuesday was a good day for the bulls mainly led by Reliance, Maruti Suzuki and Hindalco. Nifty Metal led the rise by increasing by 1.8% intraday and Bank Nifty closed in green after a weak start to the day.

Umesh Mehta, head of research, SAMCO Securities and StockNote