Whalesbook
Public sector bank (PSB) shares surged, with the Nifty PSU Bank index rising 2%. State Bank of India hit a new record high. This rally is fueled by Reserve Bank of India Governor Sanjay Malhotra's comments indicating room for further policy rate cuts. Brokerages remain optimistic about PSBs, citing improving credit momentum, strong balance sheets, and potential benefits, though some analysts note risks for specific banks.