Nifty extended decline and lost nearly half a percent, in continuation to the prevailing session - Religare Broking Ltd
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NIfty
* Nifty extended decline and lost nearly half a percent, in continuation to the prevailing session.
* Among the sectoral pack, Pharma, realty and metals were among the top losers.
* Feeble global cues combined with pressure on select heavyweights are weighing on the sentiment.
* Prudent to restrict aggressive positions until the market stabilizes.
BANK NIFTY
* Banking index remained volatile throughout the day and finally settled around the opening range on a flat note.
* Barring HDFC Bank and ICICI bank, all other banking constituents ended in green. SBI, Indusind Bank and Bank Baroda capped the downside.
* PSU pack significantly outperformed the private banking majors and managed to recoup their previous session cuts.
* Going forward, 44350 to act key support zone, which coincides with its 100 DEMA.
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