"Financials is one pocket that cannot be ignored and will likely power markets in the near term," said Mayuresh Joshi, head of equity research at William O'Neil India.
The earnings from the financials space have been along expected lines on all key parameters such as advances growth, asset quality, net interest margin and provisioning, he added.. Most Asian markets were closed on Monday for the Lunar New Year holidays. However, analysts cautioned the domestic market will remain volatile as the jury is still out on the impact of rate hikes by global central banks, with valuations still stretched, and as foreign investors continue pulling out.
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