Markets close lower; Banking stocks underperform

The Nifty IT index closed around intraday highs led by a strong rally in large-cap stocks like TCS, Infosys & Tech Mahindra.

Feb 13, 2020 10:02 IST India Infoline News Service

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Markets traded with a negative bias for the majority of the day, recovering gradually in the last hour of trade. The Bank Nifty index underperformed the Nifty index by ~0.5% with both the indices closing in the red.

Stocks like IndusInd Bank, ICICI Bank & Tata steel were among the top heavyweight underperformers, while Dr Reddys, SBI & Infosys posted strong gains.

The Nifty IT index closed around intraday highs led by a strong rally in large-cap stocks like TCS, Infosys & Tech Mahindra. The market breadth ended in favour of declines with the advance/decline ratio of Nifty50 closing at 2:3x.

On the options front (February 20, 2019 expiry), across the board call option writing was seen as both Nifty and Bank Nifty indices traded lower.

India VIX index closed at 13.37, down ~3%. 
Top 2 F&O Gainers: YESBANK & TORNTPOWER
Top 2 F&O Losers: IGL & NMDC
Nifty -27 @12,175
Bank Nifty -263 @31,230

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