Amid a sharp run-up in the Nifty PSU Bank index of over 7 per cent in the last six sessions, leading its rally to fresh 52-week high, also its record high, SBI shares hit an all-time today of Rs 816.85 per share on the BSE.

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Nevertheless, on profit booking, the stock pared some of its early gains and last was trading lower by 0.87 per cent or Rs 7.05 at Rs 805.55 per share.

On the NSE, shares touched a new all-time high of Rs 816.9 apiece.

Earlier in its exchange filing dated April 16, the lender informed that Fitch Ratings has affirmed State Bank of India’s (SBI) Long-Term Issuer Default Rating (IDR) at 'BBB-'. Fitch has also affirmed the bank's Viability Rating (VR) at 'bb' and its Government Support Rating (GSR) at 'bbb-'. The outlook on the SBI’s rating remains Stable. 

Shares of State Bank of India set a new historic peak on Friday, steering more upside in the following sessions. The breakout above the hurdle of 780 has triggered short covering, stemming in a sharp up move that appears to be reaching 900 mark. The immediate support exists at the 790 level, as per the daily chart. The stock is yet to enter the overbought category of the Relative strength index (RSI), providing more room for upside, said Avdhut Bagkar, Derivatives & Technical Analyst, StoxBox.

Axis Securities  in its banking Q4 preview report stated that 3 banks will likely register positive Q4 results, with SBI being one of them. The brokerage expected banking industry to register 17-18 per cent year-on-year credit growth in the March quarter. "Credit growth continues to be led by the retail and SME segments, with a gradual pickup in corporate lending. We expect some moderation in the unsecured lending  segment during the quarter on account of tightened norms by the regulator along with caution on part of lenders, considering the emergence of stress in certain pockets as seen in the previous quarter," according to the brokerage.

"The PSU bank index is striving to absorb all the selling pressure emerging around 7400 level, which is currently functioning as a huge roadblock. Although, the index has clicked a new historic peak, the barrier must be overcome to embark on a fresh journey. When that happens, the index may rally towards 8000 mark. Immediate support exists at 7100 level, Bagkar added.