Markets close higher after RBI monetary policy outcome; Banking stocks outperformed

Bank Nifty outperformed the Nifty index by ~0.6% with both the closing in the green.

Apr 07, 2021 03:04 IST India Infoline News Service

Markets witnessed a positive day of trade with financial stocks witnessing a sharp short covering post the announcement of the RBI’s monetary policy.

Bank Nifty outperformed the Nifty index by ~0.6% with both the closing in the green.

Financial heavyweights like SBI, ICICI Bank & Kotak Bank contributed to majority of the index gains.

Nifty Midcap and Small cap index closed, ~1.25% higher.

Market breadth ended in the favour of the advances with the advance/decline ratio closing at 2:1x. Bank Nifty added fresh short positions during the day.

On the options front (April 08, 2021 expiry), across the board writing was seen in the put option strikes as Nifty and Bank Nifty trended higher. India Vix index closed at 20.35, down ~3%.
Top 2 F&O Gainers: CHOLAFIN & CUB
Top 2 F&O Losers: ADANI ENT & ADANI PORT
Nifty +136 @14,819
Bank Nifty +490 @32,991

Related Story

Explore Important Blogs