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Analysts said as national banks' balance sheets become more available, they can allocate more funds to the private sector.

In reaction to the Fed announcement to not hike interest rates, the nifty index ended nearly a percent lower at 19,742.35 points on September 21.

The market expert believes allocating more than 2 percent of funds towards the small cap PSU banks is not advisable despite the Nifty PSU bank index delivering a 10.14 percent return over the past month as against the Nifty bank index’s 1.43 percent return.

Banking and NBFC names once again led the profit growth in Q1 FY24, while export-oriented sectors like IT bore the brunt of weak sentiment overseas. The topline growth (excluding financials and oil marketing companies), however, stood at a mere 3 percent YoY, the lowest in the last 10 quarters

Ajay Bagga highlighted the infrastructure sector as one to watch, as it tends to perform well in the year before elections, with significant focus from central, state, and local governments