PSBs: The New Heroes of Indian Markets

In the past month and a half, the Indian equity market has experienced a significant decline, with major frontline indices dropping around 8 per cent and the broader market indices falling even further. However, the banking sector, particularly public sector banks (PSBs), has shown resilience amidst this volatility. While the banking index has declined, it has done so at half the rate of the frontline market, supported mainly by the performance of PSBs.