Nifty vs Nifty Bank: 3 reasons why a screaming buy trade isn’t working

Banking stocks are underperforming in India, with Nifty Bank down 0.76% in the last month, despite other sectors rallying. Major bank stocks ICICI Bank, Kotak Bank, HDFC Bank and SBI have 39% weightage in the Nifty index, and are the only ones holding it back from reaching all-time peaks. The underperformance can be attributed to weak charts of heavyweights such as HDFC Bank and ICICI Bank. Meanwhile, the sector has a fair valuation and should soon begin to perform well again, according to insiders.