Institutional Selling A Downer For Bulls, But Future Outlook Remains Positive

By Author: Abhishek Sharma
Total Articles: 1
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After a strong set of quarterly results from index giants the likes of Reliance Industries and ICICI Bank, the bulls are in the lead at the start of the week. Although renewed selling by institutional investors from other nations is a downer, bulls will be closely observing to see if Friday's net sales of more than Rs 2,000 crore by foreign investors were an isolated incident or a sign of future selling.

On Thursday, the business will think about repurchasing shares. The stock price may briefly rise, but future gains are going to rely on the management's comments and forecasts following the quarter's earnings. After increasing nearly fourfold from the epidemic lows between March 2020 and December 2021, the stock appeared to be on the comeback route.

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Economic News Today: Since then, it has declined significantly more than its competitors (almost 50%), to the point where discussions about frontline IT stocks hardly ever bring it up. In comparison to its competitors, Wipro's business development ...
... over the past few months has been inconsistent, but this seems to have been substantially factored into the pricing. When the industry's heavy hitters are cautious in their prediction for the remainder of the year, the big question is whether the company can come as a pleasant surprise.

With a 20-basis point increase quarter over quarter to 4.9 percent, ICICI Bank disproved the notion that the industry's net interest margins were declining. If this is peak NIM, has the market already priced it into the stock price? ICICI Bank is currently the favourite stock among analysts, and the positive results from the fourth quarter support this.

The bank has now turned in outstanding results for four consecutive quarters, but the stock has been consolidating ever since it reached a peak of Rs 950 in November. Since banks are a good indicator of the health of the economy, ICICI Bank's performance may allay some worries about a potential slowdown.

Following the release of the statistics as per news sources, there was a deluge of supportive analyst calls, and bulls are relying on the upgraded earnings and target prices for an impending breakout to the upside. One of the few that exercise caution in their optimism is Goldman Sachs. The broker has removed the company from its conviction list despite keeping a "buy" call since he expects pre-provisioning earnings to slow down in FY24-FY25.