 "MFs gain from rebound in banking stocks")
The BSE Bankex has jumped 25 per cent from the 2016 lows, compared to a 12 per cent rebound in the Sensex. Besides the improvement in global sentiment, bank stocks have also benefited from some visible green shoots in the economy, jump in steel prices (a sector where some major banks have high exposure) and regulatory changes like relaxation on bad loan recognition.
Analysts are more positive on private sector banks; so are MFs, with the only state-owned bank to feature in their top 10 holdings being State Bank of India. HDFC Bank is the largest stock in MF portfolios.
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