“Would rather say weak for private banks as they struggled with credit growth and low deposit mobilisation, which also pulled down valuation premium gap between their PSU peers,” said Narendra Solanki, head fundamental research-investment services, Anand Rathi Shares and Stock Brokers. “Broadly, the year has turned out to be a year of stock-specific alpha due to prevailing global uncertainties and tariff woes, where individual companies had different sector exposure mix, driving respective gains.”