Murlidharan upbeat on SBI, Axis Bank, ICICI Bank

Murlidharan told CNBC-TV18, “If you see June and July the way the money came into the Indian market, it was through more like an arbitrage. Like I always say the buying in cash half of that is being short in the stock future. You are seeing a hedge which goes on and more or less that attributes to the arbitraging as well. Now, Friday’s data if you see I guess somewhere close to Rs 600 crore was being bought in the cash market and one important thing here is the India VIX is almost at 16-17 so this a time where you see buying happening in cash so usually you see in the money puts being bought, let say a 51 or a 52 in this case.”

He further added, “ Axis Bank , SBI and ICICI Bank , if you take, it would be the top three and PNB would be the top four scrip’s which are actually seen good delivery happening and Friday’s trade need less to say PNB tanked a lot. So I would still go with an SBI. If I have to pick the order of the entire three bank it would an SBI first, second would be an Axis and third would be an ICICI Bank.”