Sandip Sabharwal discusses Kotak’s valuation normalization after RBI restrictions, suggesting it’s now reasonably priced. He favors ICICI Bank for its asset-liability management, Axis Bank for its conservative approach, and sees SBI as undervalued. Sabharwal also believes Reliance is entering an outperformance cycle, while auto and infra stocks are underestimated.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.