Markets close higher; Indiabulls group stocks tumble

Nifty & Bank Nifty continued to add fresh open interest, indicating the addition of long positions.

Jun 11, 2019 10:06 IST India Infoline News Service

Indian equity markets traded with a positive bias throughout the day with large cap stocks continuing their outperformance. The Bank Nifty index outperformed Nifty driven by stocks like ICICI Bank & Yes Bank which closed with strong gains.

The Nifty PSU Bank index ended its 3-day losing streak, closing ~1.5% higher. Shares of IndiaBulls group remained under selling pressure with IndiaBulls Housing Finance closing ~8% lower on allegations of siphoning off ~Rs 1 lakh cr.

The market breadth ended in favor of declines with the advance/decline ratio closing at 1:3x.

Nifty & Bank Nifty continued to add fresh open interest, indicating an addition of long positions.

On the options front (June 13, 2019 expiry), across-the-board short selling was witnessed in out-of-the-money call and put option strikes with Nifty 12000CE & 11800PE carrying maximum open interest, making 12000 & 11800 levels as the immediate ceiling & floor levels, respectively, for the weekly series.

India Vix closed at 14.49, up ~3.27%.
 
Top 2 F&O Gainers: PCJEWELLER & DISHTV
Top 2 F&O Losers: JETAIRWAYS & IBULHSGFIN
Nifty +43 @11,966
Bank Nifty +231 @31,266

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