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.
RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity
The unexpected move is also seen bringing down yields on short-term government bonds, as the three securities that the government has chosen to buy back