Markets close higher; Midcap stocks outperformed

Midcap stocks continued to outperform with stocks like Arvind Fashion, Jsl, Jsl (Hisar) closing with ~15%-20% gains.

Jul 22, 2021 03:07 IST India Infoline News Service

Bull Market Trend
Markets witnessed a huge shortcovering in today’s trade as the weekly index call option writers ran for cover.

Nifty outperformed the Bank Nifty index by ~0.5%, with both the indices closing around intraday highs, up ~1.25%/0.75% respectively.

Midcap stocks continued to outperform with stocks like Arvind Fashion, Jsl, Jsl (Hisar) closing with ~15%-20% gains. Nifty Midcap 100 index closed ~1.2% higher.

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

On the options front (July 29, 2021 expiry), across the board writing was seen in the put option strikes as the Nifty index trended higher. India Vix index closed at 11.9, down ~10%.
Top 2 F&O Gainers: JUBLFOOD & MANAPPURAM
Top 2 F&O Losers: PIIND & HINDUNLVR
Nifty +192 @15,824
Bank Nifty +252 @34,677

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