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SBI Securities prefers HDFC Bank, sees long-term upside in metals
Sunny Agarwal, Head Fundamental Research, Retail Desk at SBI Securities, remains positive on private banks, preferring HDFC Bank over Kotak Mahindra Bank after the lender received a clean legal review. He says Persistent Systems' acquisition benefits may take up to eight quarters to materialise, while slower growth remains a near-term concern. Agarwal is also bullish on the metals sector, with Indian Metals & Ferro Alloys as his top pick, and remains positive on Astral over the long term despite near-term challenges.
Up to 42% upside! 9 stocks Jefferies, Motilal Oswal, others started coverage on. Do you own any?
Brokerages have initiated fresh coverage on several Indian stocks across metals, textiles, engineering and luxury retail, with mostly Buy ratings and double-digit upside targets. Firms like Meesho, Vedanta Aluminium, GE Vernova T&D and Welspun Living are seen as key beneficiaries of sectoral growth and structural demand trends.
Tech-Led global selloff, Fed rate fears weigh on Indian equities
Indian stock markets experienced their sharpest single-day drop in nearly a month, mirroring a global tech sell-off. The Nifty 50 and BSE Sensex both fell significantly, influenced by a strong US dollar and profit-taking after recent gains. While pharma and healthcare sectors showed resilience, most others, including metals and IT, declined. Market volatility increased, with analysts watching key support levels closely.
Rupee slips to its lowest-ever intraday level of 95.80 against the US dollar
The Indian rupee hit a record low of 95.71 against the US dollar due to high energy prices and overseas debt repayments. Despite tariff hikes on precious metals, economists warn of sustained pressure on the currency amid rising inflation and geopolitical tensions.
Gold, silver prices today: Check retail rates of 24K, 22K gold, 999 silver in Mumbai, Delhi, other cities on 12 April
Gold and silver prices in India remained stable on April 12. Check the retail prices of precious metals in major Indian cities.