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Bank Nifty surged past 59,000 to a record closing high on Wednesday, driven by investor confidence in banking stocks. Analysts anticipate continued momentum, citing easing earnings pressure and attractive valuations. Both private and PSU banks showed gains, with improved profitability and asset quality contributing to the optimism.
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Both Presidents highlighted the importance of accelerating multifaceted cooperation in the context of global uncertainty. Tokayev noted that during bilateral talks, they identified concrete areas for expanding political, economic, and sectoral collaboration.
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Amid rising fears of an AI bubble, Nvidia's stock is under scrutiny, echoing the turbulent period of the dot-com crash that led to years of market stagnation. While Nvidia has impressive earnings projections, major hurdles remain, compounded by big investors selling off their stakes and the struggles of firms like CoreWeave.
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Public sector banks are rallying, sparking debate on their valuations compared to private lenders. Rahul Arora sees opportunities, especially in SBI and Bank of Baroda. He notes a significant valuation gap remains, suggesting further upside potential for PSU banks. Private banks face growth limitations due to large balance sheets. Global fund flows could favor banks if capital returns to India.
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Indian IT stocks witnessed a sharp rise on Wednesday as a global anti-AI trade drove investors toward safer technology names. Analysts say fading enthusiasm for AI stocks could boost FPI flows into India, while Infosys also drew attention ahead of its Rs 18,000-crore share buyback opening Thursday.
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