Adani Enterp. 1853.85↑2.90(0.16%)
Adani Ports 658.40↓-0.15(-0.02%)
Apollo Hospitals 4320.30↓-18.35(-0.42%)
Asian Paints 2809.70↓-44.90(-1.57%)
Axis Bank 873.40↑10.05(1.16%)
B P C L 342.00↑7.20(2.15%)
Bajaj Auto 4265.80↑56.55(1.34%)
Bajaj Finance 5947.75↑32.10(0.54%)
Bajaj Finserv 1331.35↓-3.85(-0.29%)
Bharti Airtel 764.65↑4.90(0.64%)
Britannia Inds. 4293.85↓-8.00(-0.19%)
Cipla 911.90↓-12.35(-1.34%)
Coal India 230.40↓-1.80(-0.78%)
Divi's Lab. 3342.60↑72.00(2.20%)
Dr Reddy's Labs 4909.35↓-3.05(-0.06%)
Eicher Motors 3289.60↑26.05(0.80%)
Grasim Inds 1690.10↓-14.85(-0.87%)
H D F C 2744.80↑21.10(0.77%)
HCL Technologies 1038.70↓-25.15(-2.36%)
HDFC Bank 1665.70↑6.10(0.37%)
HDFC Life Insur. 524.80↓-7.50(-1.41%)
Hero Motocorp 2445.95↑6.25(0.26%)
Hind. Unilever 2531.60↓-9.45(-0.37%)
Hindalco Inds. 433.05↑1.50(0.35%)
ICICI Bank 891.90↓-4.95(-0.55%)
IndusInd Bank 1120.40↓-26.50(-2.31%)
Infosys 1232.20↓-27.15(-2.16%)
ITC 398.75↑0.25(0.06%)
JSW Steel 722.35↑3.00(0.42%)
Kotak Mah. Bank 1884.90↓-3.40(-0.18%)
Larsen & Toubro 2219.60↑3.00(0.14%)
M & M 1215.50↑10.80(0.90%)
Maruti Suzuki 8679.95↓-52.70(-0.60%)
Nestle India 20618.70↓-42.55(-0.21%)
NTPC 167.10↓-3.00(-1.76%)
O N G C 160.10↓0.00(0.00%)
Power Grid Corpn 229.95↓-0.35(-0.15%)
Reliance Industr 2352.00↑11.65(0.50%)
SBI Life Insuran 1123.40↓-22.15(-1.93%)
St Bk of India 540.30↓-5.55(-1.02%)
Sun Pharma.Inds. 995.50↓-9.30(-0.93%)
Tata Consumer 700.85↓-6.20(-0.88%)
Tata Motors 469.40↓-3.60(-0.76%)
Tata Steel 108.10↑0.50(0.46%)
TCS 3089.60↓-41.15(-1.31%)
Tech Mahindra 1013.90↓-11.30(-1.10%)
Titan Company 2569.30↓-8.40(-0.33%)
UltraTech Cem. 7515.90↓-79.40(-1.05%)
UPL 735.95↓-2.70(-0.37%)
Wipro 360.80↓-7.10(-1.93%)

MFs book profits in PSU banks, sell stocks worth Rs 1,800 cr in Q4

Potential in state-owned lenders could be limited in the near-term as most positives are priced in

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Sentiment about banking shares turned sour in March after the collapse of the Silicon Valley Bank in the US and fears of contagion risk

3 min read Last Updated : Apr 19 2023 | 11:23 PM IST

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Fund managers are withdrawing after a two-year long run in public sector bank (PSB) stocks. Domestic mutual funds (MFs) were net sellers of PSB stocks for the first time in nine quarters, offloading shares worth Rs 1,800 crore in the March quarter, said a report by ICICI Securities.

In the previous eight quarters, fund houses had invested more than Rs 10,000 in PSBs amid deep discounts in valuation vis-à-vis their private sector peers.

Fund managers said the upside potential of PSBs could be limited in the near-term as most positives are priced in and as that happens private banks are turning attractive.