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SBI shareholders lose Rs 62,350 crore as stock falls nearly 6% in market sell-off
The Economic Times· 2026-03-09 05:20
Market Overview - The BSE PSU Bank index fell by 5.65% due to heavy selling pressure in Indian equities, driven by escalating geopolitical tensions involving Iran, Israel, and the United States [1][9] - The conflict has led to an increase in crude oil prices, raising concerns about the impact on the Indian rupee and overall macroeconomic stability, resulting in negative performance across all sectoral indices [1][9] Company Performance - State Bank of India (SBI) shares declined by 5.60% to Rs 1,079.40, resulting in a market capitalisation loss of approximately Rs 62,352 crore, bringing its total market capitalisation to around Rs 9.93 lakh crore [9] - SBI's 14-day Relative Strength Index (RSI) is at 47.2, indicating a broadly neutral momentum with a slight negative bias [2][10] - The stock is trading below five of its eight key simple moving averages (SMAs), suggesting near-term bearish sentiment, but remains above longer-term 100-day, 150-day, and 200-day SMAs, indicating broader trend support [5][10] Financial Performance - SBI reported a net profit of Rs 21,028 crore for the December 2025 quarter, reflecting a 24.5% year-over-year growth, indicating stable operational performance [7][10] - The bank's current price-to-earnings (P/E) ratio is 12.97, and the price-to-book (P/B) ratio is 2.14, suggesting relatively reasonable valuations compared to the broader market [7][10] Institutional Holdings - Foreign Portfolio Investors (FPIs) increased their stake in SBI from 9.57% in the September 2025 quarter to 10.34% in the December 2025 quarter, indicating growing interest from overseas investors [8][10] - Conversely, mutual funds slightly reduced their holdings from 14.23% to 13.76% during the same period [8][10]
Boeing Charting A Quiet Comeback? Aircraft Maker Bags Five Major Contracts In Last 10 Days: Here's What Its Chart Shows
Benzinga· 2025-04-01 10:32
Core Insights - Boeing Co. has expanded its order pipeline significantly with five major deals in a span of ten days, indicating strong demand for its aircraft [1] Group 1: Recent Orders - Malaysia Aviation Group has ordered 30 Boeing 737 MAX aircraft, including options for 30 more, to modernize its fleet and enhance passenger experience in Southeast Asia [2] - Japan Airlines has placed an order for 17 additional Boeing 737-8s, nearly doubling its backlog for the 737 MAX [3] - Korean Air finalized an order for up to 50 widebody aircraft, including 20 each of 777-9 and 787-10 jets, with options for 10 more 787 Dreamliners, marking its largest order from Boeing [4] - The U.S. Army Special Operations Aviation Command has ordered five additional MH-47G Block II Chinook helicopters, bringing the total under contract to 51 [5] - BOC Aviation has ordered 50 Boeing 737-8 jets to support global airlines, expanding its 737 MAX portfolio [6] Group 2: Technical Analysis - Boeing's stock closed at $170.55, below its eight and 50-day moving averages, with near-term support at $167.02 and $167.67 [7] - The relative strength index is at 48.92, indicating a neutral zone, while the MACD momentum indicator shows a bullish trend [8] - Boeing's stock has faced challenges in 2024 due to safety concerns, production halts, and delivery shortfalls, leading to financial strain [8] Group 3: Price Action and Analyst Ratings - Boeing's stock fell 0.33% in premarket trading, with a year-to-date decline of 0.77% and a 10% drop over the past year [9] - Benzinga Edge Stock Rankings show positive medium and long-term price trends for Boeing, but a weak short-term outlook, with a solid momentum ranking at the 67.79th percentile [10] - Analysts have a consensus "hold" rating for Boeing, with an average price target of $201.63, suggesting a potential upside of 2.55% [11]