Financials to the Fore

The frontline indices have been on a roller-coaster ride in the current week. As a result, the Nifty is down by nearly 1.5 per cent. During the week, most of the heavy lifting has been done by the banking and financial stocks. Bank Nifty is almost flat while the showstopper has been the Nifty PSU Bank index. It is up by more than 3 per cent on WTD basis and nearly 6 per cent on MTD basis. Interestingly, all the stocks of Nifty PSU Bank index have been up anywhere in the range of 1-10 per cent.