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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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