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The dilemma faced by Indian investors as they try to gauge the impact of the rate hike cycle isn’t different from what their global peers face while trying to predict the fallout from the most aggressive Federal Reserve tightening in decades. RBI may start raising rates as soon as next month.

“The big uptick in bank earnings because of NPA reduction is over now. Most banks have NPAs of 0.5 to 0.75 on a net basis now. From here on, it is important for the core earnings, which is the net interest income as well as other income, to grow. This year, other income will remain under pressure because treasury gains will not be there.”

Shares of Salasar Techno Engineering jumped 4 per cent to Rs 285.95 after the announcement. However, it pared up some gains to trade at Rs 284.65 at 10.10 am. The scrip had settled at Rs 276.05 on Friday.

Promoters held 51.32 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 16.35 per cent and 4.04 per cent, respectively.

So far in 2022, the 10-year benchmark government bond yield has climbed 68 basis points as high inflation is seen leading to rate hikes by the RBI.

Asian Paints was the worst Sensex stock, falling 1.78 per cent to Rs 3,181. Maruti Suzuki declined 1.78 per cent to Rs 7,595 as March quarter numbers failed to lift investor sentiment. Titan Company, Bajaj Finance, Infosys, Sun Pharma and UltraTech Cement dropped over 1 per cent each.

Barring the dollar pegged Tether, all other crypto tokens were trading higher. Terra rallied 6 per cent, whereas Shiba Inu and XRP jumped 5 per cent each. Solana zoomed 4 per cent. Bitcoin, Ethereum and BNB rose up to 3 per cent each.

The spot prices of gold have dropped about Rs 1,200 per 10 grams in the last three weeks, whereas silver has tumbled more than Rs 4,500 per kg in the same period under review.

The Relative Strength Index of the stock stood at 57.7 on Monday.

Sharekhan estimates HDFC profit at Rs 3,136 crore, down 1.4 per cent over Rs 3,180 crore in the corresponding quarter last year.