SBI, Bank of Baroda may pull a laggard PSU bank index. But it’s a bear-market rally, not a bull run.

The Nifty 50 hit a lifetime high at 13,150 levels this week, but for investors in shares of government-owned public-sector banks, it has been a huge disappointment. Even a mere expectation of positive returns looks like a distant dream. State-owned bank stocks have been leading the list of laggards and gross under-performers in the recent equity-market rally, plagued by a slew of corporate-governance issues and ballooning bad loans. The NSE