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Citi has re-initiated coverage on State Bank of India (SBI) with a Buy rating and a target price of Rs 1,050, citing strong credit growth, improved returns, and operational efficiencies. The brokerage expects FY26FY27 loan growth of 1314%, NIMs of 2.82.9%, and ROE of 1415%. Risks include asset slippages, lower NIMs, and higher credit costs.
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Gold futures eased 0.14% to 1,12,400/10g on MCX Thursday after a strong rally, while silver gained 0.26% to 1,34,355/kg. Globally, gold held steady ahead of U.S. economic data, supported by a weaker dollar.
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Indian equity markets are navigating a sideways trend due to valuation concerns and liquidity dynamics, according to Dipan Mehta. Continuous mutual fund inflows are preventing corrections, while fundamentals are hindering strong rallies. GST cuts are expected to boost consumer lending, benefiting banks and NBFCs through increased demand for high-ticket items on EMI.
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