Markets close lower as profit booking weighs in

Nifty and Bank Nifty futures saw long unwinding.

Jun 04, 2020 03:06 IST India Infoline News Service

Analysis Finance Market
Markets traded with a negative bias as profit booking weighed in. Bank Nifty index underperformed the Nifty index by ~2.3% as the financial stocks witnessed a sharp sell-off throughout the day.

Financial stocks like Bajaj twins, Axis Bank & Kotak Bank closed lower as 8 out of 10 top losers were from the finance sector. Nifty Midcap100 index closed on a flat note, outperforming the benchmark index.

Market breadth ended in the favour of the advances with the advance/decline closing at 1:1x. Nifty and Bank Nifty futures saw long unwinding.

On the options front (June 11, 2020 expiry), across the board call option writing was seen as the Bank Nifty index trended lower.

India Vix index closed at 29.5, down 1.75%.
Top 2 F&O Gainers: IDEA & INDIGO
Top 2 F&O Losers: CHOLAINV & RBL
Nifty -32 @1,0029
Bank Nifty -550 @20,390

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