Markets close lower; Adani Group stocks underperformed

Both Bank Nifty and the Nifty index closed ~0.7% lower around its intraday lows.

Jun 16, 2021 03:06 IST India Infoline News Service

Stock Market Down, Sensex Down
Markets witnessed a negative day of trade as across the board long unwinding weighed in.

Both Bank Nifty and the Nifty index closed ~0.7% lower around its intraday lows.

Adani Group stocks were among the top underperformers as the stocks like Adani Ent & Adani Ports closed around its intraday lows, adding short positions.

Nifty Midcap 100 index closed ~1.1% lower.

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

On the options front (June 24, 2021 expiry), across the board writing was seen in the call option strikes as Bank Nifty trended lower. India Vix index closed at 15, up ~3%.
Top 2 F&O Gainers: Tata Power & Hind Petro
Top 2 F&O Losers: Adani Ports & Adani Ent
Nifty -102 @15,768
Bank Nifty -244 @35,004

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