What’s Driving Investor Enthusiasm In Banking Sector - Pessimism, Skepticism, Optimism Or Exuberance? ICICI Securities
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ICICI Securities Report
The outgoing year has been tumultuous like no other for the financial sector: in the hindsight, extreme pessimism in March with onset of Covid-19 (when Bank Nifty contracted more than 45% from new highs made in early January) gave birth to a bull phase.
With gradual opening-up during Q3 CY21, Bank Nifty built further momentum on skeptcism and promptly bounced back (more than 80% from its low) on renewed optimism in Q4 CY21.
With Bank Nifty currently trading near historical (three/five/10 years) valuations, we ponder we are in which stage of skepticism, optimism or exuberance.
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