Banking index also closed flat in a volatile session, in line with the benchmark - Religare Broking
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Nifty
* Nifty took a breather after the recent surge and ended unchanged.
* Meanwhile, the decline was widespread on the sectoral front. Realty, metal and energy were among the top losers.
* A sharp cut was witnessed in the broader indices. Both midcap & smallcap lost in the range of 3%-4%.
* Expect consolidation in the index. Suggest preferring index majors over the midcap and smallcap.
Banknifty
* Banking index also closed flat in a volatile session, in line with the benchmark.
* Trend was mixed within the pack. Positivity in ICICI Bank, Kotak Bank and HDFC Bank capped the decline.
* Expect the index to hold 45100. Suggest accumulating quality stocks on dips.
* Among the private banking majors, prefer Axis Bank and ICICI Bank. And, limit trades in PSU pack.
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