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The Nifty Bank managed to surpass critical resistance placed around 45,500 levels which is a positive sign for the bulls. The index now faces the immediate hurdle around 46,000, suggest experts.
Bargain-hunting and value-buying is likely as investors will be selective after the record rally in recent months, Prashanth Tapse of Mehta Equities Ltd has said
Taking cues from the global price trends, the MCX April gold futures were trading at 62443 per 10 grams at 9:20 am, down by Rs 81 or 0.13%, the March Silver contracts were down by Rs 186 or 0.26% at Rs 70,125 per kg.
The Nifty Bank index failed to hold on the opening gains and ended 1.7 percent lower at 45,012.
The fall in the index was led by losses in AU Small Finance Bank, Kotak Bank, ICICI Bank, Axis Bank, and IDFC First Bank while buying was seen in SBI and Bank of Baroda.