The banks have started delivering well on their numbers and if it is sustained, which it should, there is no reason for the valuations to be so cheap. So, you can definitely expect a sustained up move for some of the top PSU banks, said smallcase manager Abhishek Basumallick who also runs Intelsense Capital.
Rupee touches one-week high; RBI plans to ease dollar bids
The rupee hit a one-week high as expectations of RBI measures to curb oil refiners’ dollar demand boosted sentiment and eased pressure on the currency.