Banking index traded volatile in a defined range and settled marginally higher - Religare Broking
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NIFTY
* Nifty traded volatile on the weekly expiry day and ended marginally higher.
* Mixed trend on the sectoral front kept the traders busy. Metal and Realty posted strong gains while FMCG ended on a muted note.
* The rotational buying across sectors is helping the index to inch gradually higher amid mixed global cues.
* Maintain focus on stock selection and prefer index majors
BANK NIFTY
* Banking index traded volatile in a defined range and settled marginally higher.
* Mixed trend was witnessed among the banking majors. AU Bank, Axis Bank and Federal Bank were among the top gainers. Wherein ICICI Bank, HDFC Bank and Kotak Bank capped the upside.
* PSU Pack continued its outperformance and inched higher to hit 52 week high.
* Expect the index to hold 45500. Suggest accumulating quality stocks on dips.
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