Buy State Bank of India, Punjab National Bank: Sudip Bandopadhyay

Sudip Bandopadhyay, Market Expert told CNBC-TV18, "Yesterday was definitely short covering which took the stocks up. There is no fundamental rationale which points out to sudden spurt in buying. So, it was short covering."

"As far as the performance of these PSU banks are concerned, we expect this quarter results which are going to come out soon, they are going to be better. Lot of the provisioning is behind the banks. So, this quarter onwards the provisioning burden on the PSU banks should be lower. There should be lot of treasury gains as far as the large PSU banks are concerned. So, we expect better than expected numbers from the top PSU banks," he said.

"So, for an aggressive investor, I think State Bank of India and Punjab National Bank are buys at current level," he added.