Markets close lower; Indiabulls group companies take a nosedive

Shares of Indiabulls group continued to remain under selling pressure with Indiabulls Housing Finance closing ~8% lower on account of a corporate governance issue.

Jun 12, 2019 10:06 IST India Infoline News Service

Stock Market Uncertainty
Indian equity markets traded with a negative bias throughout the trading session on Wednesday as across the board selling pressure weighed in.

Bank Nifty underperformed the Nifty index by ~0.3%, led with correction witnessing in major heavyweights like HDFC Bank, ICICI Bank,  and Yes Bank.

The Nifty Realty index ended 2% lower on account of heavy selloff seen in stocks like Indiabulls Real Estate, DLF, and Prestige.

Shares of Indiabulls group continued to remain under selling pressure with Indiabulls Housing Finance closing ~8% lower on account of a corporate governance issue.

Market breadth ended in the favor of the declines with advance/decline ratio closing at 2:3x.

On the options front (June 13, 2019 expiry), across the board short selling was witnessed in out of the money call strikes with Nifty 12000CE,11950CE & 11900CE adding fresh open interest to the tune of ~15 lakh share, making 11900 to 12000 level as a strong resistance zone for the index in this weekly series.

India VIX closed at 14.12, down ~2.54%. 
 
Top 2 F&O Gainers: MOTHERSONSUMI & TATASTEEL
Top 2 F&O Losers:  RELCAP & IBULHSGFIN
Nifty  -59 @11,906
Bank Nifty -300 @30,966

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