Prefer private sector banks over PSU banks: Baliga

Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "The private sector space in the banking will continue doing better than the public sector undertaking (PSU) space at least over the next two or three quarters but even within the private sector space there would be a small divide especially after looking at ICICI Bank's results, there is a strain on the asset quality. So there would be a clear divide, you will have Axis Bank, IndusInd Bank, Kotak Mahindra Bank on one side and likes of ICICI Bank on the other side."

At 10:50 hrs ICICI Bank was quoting at Rs 329.35, down Re 0.80, or 0.24 percent. It has touched an intraday high of Rs 331.30 and an intraday low of Rs 325.

At 10:50 hrs State Bank of India was quoting at Rs 272.75, up Rs 0.95, or 0.35 percent. It has touched an intraday high of Rs 273.35 and an intraday low of Rs 269.85.