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Markets close lower; Nifty settles below 17,200, down 2.7%

Nifty underperformed the Bank Nifty index by ~1.1% with both the indices closing in the red.

January 24, 2022 3:35 IST | India Infoline News Service
Broker stock market crash
Markets witnessed a huge selloff as across the board selling pressure weighed in. Nifty underperformed the Bank Nifty index by ~1.1% with both the indices closing in the red with a ~2.6%/1.5% loss.

Across the board, selling was seen in major heavyweights with stocks like Reliance Industries, HDFC Ltd & Infosys contributing the majority of the losses for the index, along with an addition of heavy short positions.

Nifty Midcap 100 index closed ~4.1% lower. Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:12x. Nifty saw an addition of short positions during the day.

On the options front (January 27, 2021 expiry), across the board writing was seen in the call option strikes as the Nifty index trended lower.

India Vix index closed at 22.7, up ~20%.
Top 2 F&O Gainers: BANDHAN & CIPLA
Top 2 F&O Losers: IDEA & ASTRAL
Nifty -468 @17,149
Bank Nifty -627 @36,948

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