Markets close higher; Banking stocks underperformed

Bank Nifty underperformed the Nifty index by ~1%.

Apr 08, 2021 03:04 IST India Infoline News Service

Bull and bear
Markets witnessed a positive day of trade with Midcap stocks outperforming the benchmark indices.  

Bank Nifty underperformed the Nifty index by ~1% with major financial heavyweights like SBI, HDFC Bank & Kotak Bank contributed to majority of the index loses.

Nifty Midcap index closed, ~0.6% higher. Cement stocks were among the top outperformers with stocks like ACC, Shree Cement & Ambuja cement adding fresh long positions.

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 trended higher. India Vix index closed at 20.35, up ~0.5%.
Top 2 F&O Gainers: JSW STEEL & JINDAL STEEL
Top 2 F&O Losers: IDEA & IBULHSGFIN
Nifty +59 @14,878
Bank Nifty -208 @32,783

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