PNB Seeking Infusion Of Rs. 5431 Crores From Government

September 27, 2018

Punjab National Bank (PNB) issued a statement to the stock exchanges, describing its plans to seek Rs. 5,431 crores capital support from the government after the government committed capital support to state-owned banks after meeting heads of public sector lenders.

The board meeting of the bank will take place today for considering an infusion of Rs. 5,431 crores by the government by way of preferential issue of equity share and fixing date of the extraordinary general meeting (EGM) for obtaining shareholders’ approval in this regard.

The government had earlier infused Rs. 2,816 crores in PNB as capital infusion via preferential allotment of equity shares this month to meet regulatory ratios as part of Rs. 2.11 trillion capital infusion programme the government announced October last year.

The government also decided to infuse Rs. 11,336 crores in July, in five state-owned lenders including PNB, Corporation Bank and Andhra Bank to help them meet the regulatory capital requirement.

The infusion was part of remaining Rs. 65,000 crore out of Rs 2.11 trillion capital infusion over two financial years. As per the plan, the public sector banks (PSBs) were to get Rs. 1.35 trillion through recapitalisation bonds, and the balance ?58,000 crore through raising of capital from the market.

Read EquityPandit’s Technical Analysis of Nifty Bank

INDEX OUTLOOK MARKET OUTLOOK NIFTY

NIFTY 50 Outlook for the Week (June 03, 2024 – June 07, 2024)

CRON USERMay 31, 2024

May 31, 2024

NIFTY 50 closed the previous week on a negative note losing 3.00%.

Technically, NIFTY 50 share price will see immediate support at 22,261.53 and immediate resistance would be seen at 22,955.33.

If NIFTY 50 share price closes below immediate support of 22,261.53, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 21,992.37 for the week.

On the positive side, immediate resistance will be seen at 22,955.33. Closing above 22,955.33, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 23,379.97 for the week.

Trading range for NIFTY 50 share price for this week should be between 21,567.73 on down side and 23,649.13 on up side.

NIFTY 50 Previous Week High: 23110.8

NIFTY 50 Previous Week Low: 22417

NIFTY 50 Previous Week Range: 693.8 Points

NIFTY 50 share price support and resistance for the week (June 03, 2024 – June 07, 2024)

Level Type	Value
Resistance 3	23,649.13
Resistance 2	23,379.97
Resistance 1	22,955.33
Support 1	22,261.53
Support 2	21,992.37
Support 3	21,567.73

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INDEX OUTLOOK MARKET OUTLOOK NIFTY

NIFTY 50 Outlook for the Week (May 27, 2024 – May 31, 2024)

CRON USERMay 24, 2024

May 24, 2024

NIFTY 50 closed the previous week on a negative note losing 2.70%.

Technically, NIFTY 50 share price will see immediate support at 22,565.63 and immediate resistance would be seen at 23,187.48.

If NIFTY 50 share price closes below immediate support of 22,565.63, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 22,174.17 for the week.

On the positive side, immediate resistance will be seen at 23,187.48. Closing above 23,187.48, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 23,417.87 for the week.

Trading range for NIFTY 50 share price for this week should be between 21,943.78 on down side and 23,809.33 on up side.

NIFTY 50 Previous Week High: 23026.4

NIFTY 50 Previous Week Low: 22404.55

NIFTY 50 Previous Week Range: 621.85 Points

NIFTY 50 share price support and resistance for the week (May 27, 2024 – May 31, 2024)

Level Type	Value
Resistance 3	23,809.33
Resistance 2	23,417.87
Resistance 1	23,187.48
Support 1	22,565.63
Support 2	22,174.17
Support 3	21,943.78

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INDEX OUTLOOK MARKET OUTLOOK NIFTY

NIFTY 50 Outlook for the Week (May 20, 2024 – May 24, 2024)

CRON USERMay 17, 2024

May 17, 2024

NIFTY 50 closed the previous week on a negative note losing 3.03%.

Technically, NIFTY 50 share price will see immediate support at 22,024.05 and immediate resistance would be seen at 22,705.15.

If NIFTY 50 share price closes below immediate support of 22,024.05, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 21,582.00 for the week.

On the positive side, immediate resistance will be seen at 22,705.15. Closing above 22,705.15, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 22,944.20 for the week.

Trading range for NIFTY 50 share price for this week should be between 21,342.95 on down side and 23,386.25 on up side.

NIFTY 50 Previous Week High: 22502.15

NIFTY 50 Previous Week Low: 21821.05

NIFTY 50 Previous Week Range: 681.1 Points

NIFTY 50 share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type	Value
Resistance 3	23,386.25
Resistance 2	22,944.20
Resistance 1	22,705.15
Support 1	22,024.05
Support 2	21,582.00
Support 3	21,342.95

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INDEX OUTLOOK MARKET OUTLOOK NIFTY

NIFTY 50 Outlook for the Week (May 13, 2024 – May 17, 2024)

CRON USERMay 10, 2024

May 10, 2024

NIFTY 50 closed the previous week on a negative note losing 2.91%.

Technically, NIFTY 50 share price will see immediate support at 21,795.47 and immediate resistance would be seen at 22,451.87.

If NIFTY 50 share price closes below immediate support of 21,795.47, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 21,535.73 for the week.

On the positive side, immediate resistance will be seen at 22,451.87. Closing above 22,451.87, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 22,848.53 for the week.

Trading range for NIFTY 50 share price for this week should be between 21,139.07 on down side and 23,108.27 on up side.

NIFTY 50 Previous Week High: 22588.8

NIFTY 50 Previous Week Low: 21932.4

NIFTY 50 Previous Week Range: 656.4 Points

NIFTY 50 share price support and resistance for the week (May 13, 2024 – May 17, 2024)

Level Type	Value
Resistance 3	23,108.27
Resistance 2	22,848.53
Resistance 1	22,451.87
Support 1	21,795.47
Support 2	21,535.73
Support 3	21,139.07

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INDEX OUTLOOK MARKET OUTLOOK NIFTY

NIFTY 50 Outlook for the Week (May 06, 2024 – May 10, 2024)

CRON USERMay 3, 2024

May 3, 2024

NIFTY 50 closed the previous week on a negative note losing 1.96%.

Technically, NIFTY 50 share price will see immediate support at 22,284.37 and immediate resistance would be seen at 22,731.02.

If NIFTY 50 share price closes below immediate support of 22,284.37, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 22,092.88 for the week.

On the positive side, immediate resistance will be seen at 22,731.02. Closing above 22,731.02, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 22,986.18 for the week.

Trading range for NIFTY 50 share price for this week should be between 21,837.72 on down side and 23,177.67 on up side.

NIFTY 50 Previous Week High: 22794.7

NIFTY 50 Previous Week Low: 22348.05

NIFTY 50 Previous Week Range: 446.65 Points

NIFTY 50 share price support and resistance for the week (May 06, 2024 – May 10, 2024)

Level Type	Value
Resistance 3	23,177.67
Resistance 2	22,986.18
Resistance 1	22,731.02
Support 1	22,284.37
Support 2	22,092.88
Support 3	21,837.72

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