There's greater comfort in owning pvt banks: Deepak Jasani, HDFC Securities

Optically, the markets do not look cheap. However technical factors (liquidity, no alternative asset class etc) means that equities could continue to do well for some more time, the expert said.

If recovery under IBC cases improves in terms of proportion and timeline, then a lot of troubled banks (including PSUs) could do well. However, within banks, the emerging scenario of competition, technology changes, subdued credit growth for extended periods and possibility of fresh slippages from new segments need to be considered for taking a long term view on individual stocks, says Deepak Jasani, Head of Retail Research at HDFC securities in an interaction with Swati Verma. Excerpts -

There is a sharp contradiction between the performance of benchmark indices and macro-economic scenario. What's your view?

Markets perform based on expectations.