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Nifty

* Nifty remained range bound and ended unchanged, in continuation to Monday’s tone.

* Mixed trend continued on the sectoral front wherein realty and auto edged higher were among the top performers while FMCG, pharma and banking witnessed some profit taking.

* The pause in the index is largely on the expected lines and we expect the same to end soon.

* Apart from the key sectors, certain themes like agri. related viz. fertiliser & sugar and chemical stocks are attracting noticeable interest.

Bank Nifty

* Banking index remained volatile throughout the day and finally settled marginal lower.

* Mixed trend continued among the banking majors. Wherein HDFC Bank and SBIN inched higher. While Kotak Bank and ICICI Bank remained subdued.

* We continue with our bullish stance and maintain “Buy on dips” approach in the banking index.

* Thus any dips towards the support zone shall be utilsed to accumulate the quality banking stocks.

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