SBI is still the safest PSB bet; Hindalco Inds Q4 PAT more than doubles to Rs 356 crore; Good Q4 numbers powering stocks' rally

ET Markets Daily Brief | Sat, May 28, 2016 | 04:22 PM IST Follow ET Markets

​Nearly $15 billion in bad assets! SBI still safest PSB bet: Experts Investors who have a time horizon of more than a year can look at buying SBI on dips or at current level, its shares already down over 10% this year. Hindalco Q4 PAT more than doubles to Rs 356 cr, sales down 7% This was 123.36 per cent higher than a net profit of Rs 159.53 crore the company reported in the corresponding quarter of last year. Good fourth quarter numbers powering stocks' rally Nifty rose 87 points, or 1.1%, to end at 8156.65 while the Sensex climbed close to 300 points, or 1.1%, to 26653.60.

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Market Watch 28 May | 04:22PM| SENSEX NIFTY USD/INR GOLD 26653.60 ↑286.92 8156.65 ↑87.00 67.03 ↓-0.15 28619.0 ↓-119.0

Gainers Losers 28 May, 2016, 04:22PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Sampre Nutritions Ltd. 72.90 19.90 28642 72.95 57.10 Chemfab Alkalies Ltd. 100.90 19.90 34442 100.95 83.10 Brahmaputra Infrastructure Ltd. 36.85 17.92 29388 37.00 31.50

Tweet of the day... Bulls back in reckoning, Nifty rollovers at 3-month average

FROM THE NEWSPAPER

Nifty breakout indicates D-St just resumed a long-term bull market The rally this week was across sectors and stocks - power, cement, PSBs, and infra stocks in particular – which confirmed the vibrancy of the bull market. Tech view: Nifty50 charts show three white soldiers formation Three White Soldiers pattern consists of three consecutive long-bodied candlesticks that have closed higher than the previous day's closing levels. View: Largecaps to lead market, time of mid and smallcaps over In an environment where crude prices are going up, it is time to move away from OMCs towards oil exploration companies, says Sharma of Sana Securities. Best of the week: 12 midcaps that doubled your wealth in 2 years of Modi sarkar Almost 12 stocks more than doubled investors' wealth in the last two years. Among them are Bajaj Finance, Britannia Industries, Ashok Leyland, Berger Paints. Modi govt doesn't deserve someone like Raghuram Rajan: P Chidambaram Chidambaram said UPA had appointed one of the finest economist and the big question was whether the current government deserved to keep Rajan or not.

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