7 Days average of COVID cases - India ( as on 20th May 2021)
Today, on 21st May 2021 (Friday) , Equity market shown a nice recovery due to COVID falling cases The number of infections and deaths are slowing down. Consumer sentiment is rising, and hopes of an economic recovery are soaring.
On Friday, Nifty 50 and the BSE Sensex 30 rallied 1.81% and 1.97% respectively. It was banks and financials all the way as top five stocks on Nifty were all banks : State Bank Of India , HDFC Bank Ltd , IndusInd Bank Ltd , ICICI Bank Ltd and AXIS Bank Ltd that gained 5.06%, 4.78%, 3.99%, 3.91% and 3.72% respectively.
Why Banks and financials gained so much , this Friday ?
The number of COVID cases going down means the unlock theme will start off in full swing. As the economy recovers, the biggest beneficiaries are going to be banks and financial stocks. Hence Nifty Bank gained 3.82% on the back of strong buying in the sector. Analysts believe that reported that the large banks have a potential upside of 15-40% from here and the smaller banks are around 30% lower than their 52-week highs. So there is a huge scope in banking stocks.
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All Banking Mutual Fund Schemes in the Mutual Fund Industry ( Sorted on the basis of 3 Yrs Returns) :
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