Markets close lower; Banking stocks underperformed

Nifty IT index continued its bullish momentum, closing on record highs.

Apr 09, 2021 03:04 IST India Infoline News Service

Bull-and-Bear--Stock-Market-Trends
Markets witnessed a lacklustre day of trade with Nifty index trading in a narrow band.  

Bank Nifty underperformed the Nifty index by ~0.75% for the second consecutive trading session with the major financial heavyweights like SBI, HDFC Bank & ICICI Bank contributing majority of the index loses.

Nifty Midcap index closed, ~0.2% higher.

Nifty IT index continued its bullish momentum, closing on record highs.

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

On the options front (April 08, 2021 expiry), across the board writing was seen in the call option strikes as Bank Nifty trended lower. India Vix index closed at 19.8, up ~2.6%.
Top 2 F&O Gainers: CADILA & GLENMARK
Top 2 F&O Losers: BAJAJ FIN & IDFC FIRST
Nifty -39 @14,835
Bank Nifty -336 @32,448

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