In the last few sessions, every bank stock has seen a correction. But a deeper look reveals a streak of outperformance amidst the mayhem. The wave of unprecedented FPI selling was bound to hit all indices. Had it happened a couple of years ago, it would have caused much more damage, especially to banking stocks where FPIs own significant chunks. The current wave of selling resulted in just a 5% cut in the index, with a few large-caps taking a beating. But when the recovery took place on Tuesday, the market breadth was able to recover sharply. This indicates the strength of the market. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
