IGI Logo

Nifty

* Nifty continue to scale higher for fifth consecutive session and witnessed a record closing gaining nearly 0.34 percent.

* On the sectoral front PSU Bank and IT witnessed profit booking wherein Pharma, FMCG and Oil and Gas sector remained top gainers.

* For index to continue its upward momentum, it would be crucial for the private banking majors to participate and contribute to the move.

* Stay focused on stock selection and refrain from aggressive bets.

BANKNIFTY

* Banking index remained range-bound after an initial upmove and closed the day gaining nearly 150 points.

* Baring ICICI Bank and SBIN all other major banks closed lower. Wherein Axis Bank and HDFC bank remained subdued.

* Going ahead, banking index has an intermediate hurdle around 46750, followed by 47100 levels.

* Mix trend among the private banking majors capping the upside.

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

SEBI Registration number is INZ000174330