Banks are in downward pressure

Indian stock market ended their weekly session on a negative note. BSE down by 0.28% and NSE down by 0.31%.This create a good opportunity to buy long term stocks and the important thing is to look forward their earning trends.
Stock market faces a selling pressure on account of rise in the bond yields. Banks like Punjab National Bank, Union Bank of India, Allahabad Bank, Andhra bank, Bank of India, Bank of Baroda and State Bank of India are traded below their median face value during the week. These PSU bank continued to face downward pressure in this week too due to their recent scams and high non-performing assets. Some investors have been initiated call to buy on few of these stocks.
BHEL, Asian paints, Bajaj auto and Voltas are some of the safest stocks to invest and it provide good returns in the upcoming days.

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