Banking index remained volatile throughout the day and closed nearly unchanged - Religare Broking
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NIFTY
* Nifty ended marginally higher amid volatility, in continuation to the prevailing consolidation phase.
* The broader indices outperformance amid choppiness and gained nearly a percent each.
* Indications are in favor of further consolidation in the index but the bias would remain on the positive side.
* Participants should maintain their focus on stock selection and overnight risk management.
BANKNIFTY
* Banking index remained volatile throughout the day and closed nearly unchanged.
* Mixed trend was witnessed among banking participants. Whereas SBI and Bankbaroda remained top gainer, wherein Axisbank and HDFCBank remained subdued.
* Surprisingly, PSU bank outperformed the private banking majors and closed over half a percent.
* Expect consolidation to continue in banking index with positive bias.
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