Synopsis
Yes, on Tuesday, it was banking stocks that led the market decline. But if you look at their overall performance over a period of time, they have been outperformers. As they are heavily owned by FIIs, they come under pressure when selling increases. That, however, does change the reality that their balance sheets are far better placed than they were just three years ago. And in the case of some banks, the painful process of valuation readjustment is also over. Time to take a closer look at these stocks.
There are two things worth noticing in the market from the banking sector’s perspective. And these two things lead to a third factor, one which matters more to the street and to investors. First: Banking is probably one of few sectors where valuations have not gone through the roof. Second: Banking is among the few sectors that had more positive than negative surprises in the Q4 earnings season.Now, co-relate the two and the third factor
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