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Analysis done by Nuvama Alternative & Quantitative Research shows that as a result of the recapping, the cumulative inflows in HDFC Bank would be at around $29 million, $26 million in ICICI Bank, $19 million in IndusInd Bank.

“The core focus now has to come back to earnings which are going to be out and what happens to the US market. Overall we should look at this market with a positive bias because each and every correction that we are seeing in the last one year or so, has been bought into. So, overall we remain positive and constructive on the market.”

As per the Trendlyne data, the highest target price for the stock goes up to Rs 80, while the average target price estimate is Rs 61, which shows an upside potential of 9% from the current market prices. The consensus recommendation from 2 analysts for Rail Vikas Nigam is a strong ‘buy’.

The brokerage suggests to buy this stock for an upside target of Rs 200 keeping the stop loss of Rs 172.

Bitcoin fell 1.23% and traded between $16,500-$17,000 levels. Ethereum dipped below the $1,200 mark.

On the technical charts, the RSI of the stock stood at 39.2.

Developing economies are expected to cling to their growth differential over developed peers, but recession fears in the United States as well as Europe are casting a pall over global markets generally - especially in the first half of the year.

Wipro, Mphasis, Tech Mahindra and LTIMindtree fell over 40% and were the worst performers in the Nifty IT pack in 2022.

On the technical charts, the RSI of the stock stood at 40.33.

“Whenever we see the economy growing, per capita income is definitely growing. All these sectors will benefit because some portion of BFSI is consumption driven. We are positive on the banking side because in the last five years, the overall industry has reduced their NPAs and we believe everybody learns from their mistakes.”