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PSU bank stocks soar up to 8%, but HDFC, Axis and other private lenders fall up to 5% after Q2 results. Why the sharp divide?
PSU bank stocks rallied strongly after upbeat Q2 earnings led by PNB, while major private lenders like Axis Bank and HDFC Bank faced selling pressure despite profit growth due to missing specific estimates. This sharp divergence created a mixed performance across the banking sector, weighing slightly on the broader Nifty Bank index.