PSU banks suffer whopping Rs 87,000 cr loss in FY18
Losses of public sector banks crossed a whopping Rs 87,300 crore in 2017-18 fiscal, topped by scam-tainted Punjab National Bank which took a hit of nearly Rs 12,283 crore.
Seems banknifty is ripe for a little correction. Indices are moving up too much ahead of fundamentals which are not justifiable.
Zig Zag move of Banknifty shows that smart money might be already selling while still in the final upmove stage.