Markets close lower led by banking stocks

The Bank Nifty index underperformed the Nifty index by 0.4% as PSU Bank stocks took a nosedive.

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

Markets witnessed across-the-board selling pressure with both the Nifty and Bank Nifty indices closing lower for the second consecutive trading day.

The Bank Nifty index underperformed the Nifty index by 0.4% as PSU Bank stocks took a nosedive, led by SBI closing at intraday lows.

Share prices of Yes Bank, SBI, & Indusind Bank plummeted, closing 11%, 5% & 3% lower, respectively.

The market breadth ended in favor of declines with the advance/decline ratio closing at 1:3x.

Nifty and Bank Nifty futures added short positions.

On the options front (December 13, 2019 expiry), Nifty and Bank Nifty call option writing was seen in out-of-the-money strikes as the indices traded lower.

India Vix index closed at 13.65, down ~4.7 %. 
Top 2 F&O Gainers: INFRATEL & CENTURYTEX
Top 2 F&O Losers: YESBANK & DISHTV
Nifty -97 @11,922
Bank Nifty -371 @31,342

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