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NIFTY

* Nifty traded lacklustre on the weekly expiry day and ended almost flat amid mixed cues.

* Following a flat start, the Nifty moved in a narrow range and finally settled at 24,793.25.

* Most sectors ended in the red, with realty, metal, and energy being the top losers.

* The strength in the benchmark index does not reflect the underlying market tone, as we are witnessing gradual profit booking across sectors and in the broader market.

* We reiterate our cautious view and advise closely monitoring positions until we see further clarity

BANKNIFTY

* The banking index faced continued selling pressure from the previous session, trading with a negative bias throughout the day.

* While the index may dip slightly lower, the overall outlook remains bullish.

* Barring Kotakbank, most banking stocks declined, with PSU banks led the downside rally where Canbk, PNB and Bankbaroda fell the most.

* As long as the index stays between 55,100 and 56,100, we expect sideways movement to persist in upcoming sessions.

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