Watch out! High-beta stocks may see exits, Bank Nifty can fall 15% more

The rally in banks that began last year on hopes of a lower interest cycle has come to an abrupt end. This is despite two rate cuts by the Reserve Bank of India in 2015. The Bank Nifty is down 12 per cent since March 04, the day RBI announced second rate cut. 

According to analysts, the valuations of banks had run-up sharply even as NPA levels remained at elevated levels. Investors are looking at exiting high beta stocks as Q4 earnings are expected to be disappointing. Thus, the banks ar .. 

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