Banking stocks are gaining momentum and trading close to their all-time highs. In this market, should you invest in banking dedicated MFs? Let’s find out.

As has been his track record, Narendra Modi has yet again managed to jolt the market with the announcement of Nirmala Sitharaman as the Finance Minister in his new cabinet.

Following stocks are close to their 52-weeks low as at 1:03 p.m. on May 31, 2019.

The markets on May 31, 2019 opened gap up. BSE Sensex is trading at 39,765.23, down by 66.74 points and the Nifty is trading at 11,929.50, down by 16.40 points. 

Crude oil prices in the international markets were down to their lowest since March. This news was cheered by investors and the benchmark indices BSE Sensex and Nifty are trading comfortably above the 40,000 and 12,000 mark, respectively.

Overall volumes in futures & options currently stand at 3,45,88,098 contracts with a turnover of Rs.23,70,654.07 crore.

Overall volumes in futures & options currently stand at 3,45,88,098 contracts with a turnover of Rs.23,70,654.07 crore.

The immediate resistance is placed in the range of 12,000-12,040. Surpassing the hurdle of 12,000-12,040 may take Nifty towards the next junction of 12,200. In case Nifty slips below the 11,812 mark, it may try to fill the upside gap area of May 20. Stocks in news: Shemaroo, Jet Airways, Sonata Software.

The early trend in SGX Nifty suggests that Nifty may open the day on a flat note but the new cabinet formation is likely to enthuse the market to make an attempt to touch the level of 12,000 on Nifty. At the time of writing, SGX Nifty was trading higher by 7 points at 11,982 level.

Private power transmission and distribution company Tata Power announced that the company’s wholly-owned subsidiary in renewable energy business received a Letter of Award (LoA), on Thursday.