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NIFTY

* Nifty traded dull and ended marginally lower, taking a pause after the recent bounce.

* Mixed trend on the sectoral front kept the traders busy. Pharma and banking posted modest gains.

* Apart from the mixed global cues, continued underperformance from the key sectors viz. banking, auto and FMCG is weighing on the sentiment.

* We thus reiterate our view to limit positions and wait for clarity.

BANK NIFTY

* Bank Nifty outperformed the benchmark index and closed marginally higher.

* Mixed trend was witnessed among the private banking majors, wherein ICICI Bank and Axis Bank were top gainers while Indusind Bank, Kotak Bank and HDFC Bank remained subdued.

* The PSU pack edged higher and outperformed the private banking majors.

* Failure to sustain above 45200, which coincides with 20 EMA, could led to further decline towards the crucial support zone of 44,500.

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