Banks to see buying interest at lower levels: Nadkarni

Girish Nadkarni of Avendus Capital told CNBC-TV18, "I think when money is being pulled out from the markets one will see a broad based selling across stocks in the banking sector as well as the other sectors."

"Having said that there are some components of the Indian banking sector that are fairly resilient, for example, housing finance is quite strong. So there will be pockets of buying that will emerge hopefully in some of these stocks. You will find buying happening at lower levels in banks which have better asset quality. So there will be support for the good banks with a stronger balance sheet and stronger credit quality. I guess that is how events will play out in the banking sector," he said.

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