Prefer PSU banks over private sector banks: Siddarth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "For private sector banks, I am not so very bullish, be it ICICI Bank or Axis Bank. I am not saying they are going to correct significantly. But public sector (PSU) names, where we are more optimistic from the bounce back perspective be it Canara Bank, despite some downgrades coming over there or be it Union Bank of India and Bank of India. Even Punjab National Bank and SBI are showing strength. So, I would prefer PSU space from trading perspective over private sector banks."

On Friday, State Bank of India closed at Rs 268.85, up Rs 1.45, or 0.54 percent. It has touched an intraday high of Rs 269.90 and an intraday low of Rs 266.80.