Markets close higher; Infosys stock outperforms

Infosys closed ~10% higher, hitting a fresh lifetime high.

Jul 16, 2020 03:07 IST India Infoline News Service

Bombay Stock Exchange
Domestic markets witnessed a strong rally in the closing part of the trade as across the board short-covering weighed in. Both Nifty and Bank Nifty index closed ~1 % higher led by a strong rally in IT and financial stocks.

Infosys closed ~10% higher, hitting fresh lifetime high backed by better than expected quarterly earnings and dovish management commentary. 

Nifty Midcap100 index closed higher, up ~0.5. Market breadth ended in favour of the declines with the advance/decline closing at 1:2x. Nifty & Bank Nifty future saw short covering.

On the options front (July 16, 2020 expiry), across the board put option writing was seen in the Nifty & Bank Nifty index as the indices traded with a positive bias. India Vix index closed at 25.5, down 3%.
Top 2 F&O Gainers: INFOSYS & BPCL
Top 2 F&O Losers: IDEA & INFRATEL
Nifty +110 @10,729
Bank Nifty +211 @21,552

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