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Bank Nifty and Nifty PSU Bank indices are trading in reverse directions. While Bank Nifty is trading down marginally by 0.14 per cent, Nifty PSU Bank is trading up 0.9 per cent.
This is because PSU banks were beaten down heavily in the recent market correction and RBI's tone sounded accomodative or dovish in terms of policy rates going ahead. This indicates less pressure on the profitability of banks.
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