IGI Logo

NIFTY

* Nifty witnessed a bout of profit taking and lost nearly one and a half percent.

* Among the key sectors, metal, energy and realty were among the top losers. As well the broader indices too felt the heat and lost over 3.5% each.

* We reiterate our preference for index majors and suggest accumulating quality names during this phase.

* Participants should reduce their positions and maintain strict stop losses in remaining trades.

BANK NIFTY

* Banking index witnessed profit taking in the second half and closed the session lower by around a percent.

* Baring HDFC bank, all other banking majors ended in red. Wherein SBIN, Axis bank and Kotak bank lost the maximum.

* PSU Banks underperformed private banking index significantly losing by more than four percent.

* Going ahead 47200-46800 remains the crucial support zone to watch out for

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ000174330