From ICICI to Axis Bank, private banks turn laggards at bourses

After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks — such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank — are now underperforming.
 
The Nifty Private Bank index is up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the