The Nifty has hit fresh high of 2016 as the 50-share index is up 18.60 points or 0.2 percent at 7981.25. The Sensex is up 41.62 points or 0.2 percent at 26048.92. About 1110 shares have advanced, 540 shares declined, and 95 shares are unchanged.
The banking space has rallied in the last two months helped largely by disclosures of bad loans. But the pain is not over yet for banks. It will last for two quarters at least, says Vaibhav Sanghavi, MD Of Ambit Investment.
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