India Private Banks See Corporate Loans Rise as Bond Yields Climb

India Private Banks to Gain as Firms Swap Bonds for Cheaper Loans Good morning... I’m Alex Gabriel Simon in Mumbai with your pre-market briefing, and a little bleary-eyed after staying up last night to cheer Spain. Indian equities head into Monday with some wind in their sails after encouraging results from some Nifty heavyweights, including Reliance Industries. Weekend results from the biggest private sector banks have largely backed up the view that credit growth remains sturdy, as we write below. That said, concerns are building with crude oil jumping and the dollar strengthening after the US-Iran conflict intensified. That will test the resilience of Indian stocks, even as the market has largely been shielded from the chip-driven volatility that has rattled global stocks in recent weeks. The technical picture has improved as well. The Nifty has climbed back above its 50- and 100-day moving averages, levels traders often see as a sign that the recent recovery still has room to run.