Bank Nifty outperformed the Nifty index by ~0.77% with both the indices closing ~1.6%/0.85% higher.
Pharma stocks were among the top outperformers as the major heavyweight stocks like Lupin, Aurobindo & Sunpharma closed with a strong gains along with an addition of fresh long positions.
Nifty Midcap index closed ~1% higher.
Market breadth ended in the favour of the advances with the advance/decline ratio closing at 1:1x. Nifty saw an addition of long positions during the day.
On the options front (May 07, 2021 expiry), across the board writing was seen in the put option strikes as Nifty trended higher. India Vix index closed at 22, down ~4.5%.
|Top 2 F&O Gainers:||LUPIN & SUNPHARMA|
|Top 2 F&O Losers:||APLT & ADANI PORT|
|Bank Nifty||+513 @32,784|