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Nifty Bank closed above 47,700; next crucial resistance seen at 48,000-48,250
The rally in the Nifty Bank index was led by gains in Kotak Bank, Bank of Baroda, HDFC Bank, Axis Bank, and SBI. Volatility index India VIX surged by ~7% to 14.65. Markets recouped losses and gained nearly half a per cent amid mixed cues