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Little reason for cheer

Two global rating agencies in the week downgraded India's top three public sector banks citing worsening credit quality

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Nifty last week ended at 5833 with a weekly loss of around 3 per cent. The Bank Nifty also ended with a weekly loss of around 7.2 per cent. If nifty fall below 5811 and 5793 then we can expect further down trend in Nifty. Nifty has resistance at 5925 and 5950 level.

In the sectors space, the major gainers were Media and Pharma sector which closed up around3.2 per cent and 1.7 per cent respectively. Realty and Oil &gas were the losers closed down around 7 per cent and 5 per cent respectively.

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