These bank stocks can give more than 18% returns
After a very short phase of a correction, several PSU bank stocks were the top gainers in Tuesday’s trading session. Today on Wednesday they are trading with minor recovery.
All PSU banks are sitting with a decent amount of gains for the last five months, and even then they have not witnessed a sharp decline.
On Tuesday, the breadth of the market was weak. Suddenly PSU turns into an outperforming set of stocks. It signals a couple of things. First, because the banking sector is probably the best proxy play to the Indian economy. It appears the view on the street is positive on economic growth. Second, rather than taking exposure to an individual sector, taking exposure to PSU banks which are still among the lot that are available at relatively cheaper valuations is a trade on the street.
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