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Markets close higher; Banking stocks underperformed

Bank Nifty underperformed the Nifty index by ~0.75%.

January 17, 2022 3:35 IST | India Infoline News Service
Stock Market Up
Markets witnessed a positive day of trade, with the benchmark index trending higher for the major part of the trade.

Bank Nifty underperformed the Nifty index by ~0.75% with the former closing lower while the later closing in the green ~0.3% gains.

Profit booking was seen in the major heavyweights like HDFC Bank while long additions were done in Cement stocks like Ultratech & Grasim.

Nifty Midcap 100 index closed ~0.16% higher.

Market breadth ended in the favour of the advances with the advance/decline ratio closing at 3:2x. Nifty saw an addition of long positions during the day.

On the options front (January 27, 2021 expiry), across the board writing was seen in the put option strikes as the Nifty index trended higher. India Vix index closed at 16.75, up ~1.2%.
Top 2 F&O Gainers: ABFRL & APOLLO TYRE
Top 2 F&O Losers: GRANUELS & HCL TECH
Nifty +53 @18,309
Bank Nifty -122 @38,248

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