Wednesday's trading session in the stock market was volatile. Nifty recovered after a gap-down opening but the market declined in the afternoon. At the end of the day, Nifty closed at 24435 level after falling 37 points, while Sensex closed at 80082 level after falling 139 points.

Market experts believe that focusing on some banking stocks at this time can be a good move.

Stock market expert Mayuresh Joshi said that large-cap banks have performed well. Mid-cap banks have also performed well. He said that mid-cap bank Karur Vysya Bank has given good figures. City Union Bank gave good figures yesterday and some PSU banks have also given good figures.

Mayuresh Joshi said on the banking sector that the figures of most banks, especially large-cap banks, have been very good. Axis Bank has given good figures. HDFC Bank has given good figures and the commentary has also been equally encouraging. There has been a mistake in Kotak's figures, so there is some one-sided decline in the figures. It is expected that some positivity is expected to come as interest rate cuts start in India as well.

He said that the apprehensions about the BFSI sector that how will the deposits grow, whether will there be pressure in terms of asset class, will there be pressure on NIM and spread, which has not happened at least in the second quarter figures.

He said that when it comes to the second half and the next financial year, the commentary seems quite optimistic. So again selectively this group of large and midcap banks is something that can continue to do well looking at the results. Mobilizing deposit amounts with the rate cut scenario is going to be extremely important at least in the next few quarters.

He said that a large part of the banking sector is well-registered. Asset quality pressure is under control. The balance sheet is adequately provisioned and hence additional stress seems to be minimal. At this point in time, expectations seem to be quite low in terms of NIM, and valuations and price action probably remain in their favor. So, yes, we will continue to hold banks like Axis, ICICI, Karur, Bank of Baroda, and Bank of Maharashtra in our global portfolio.