Markets close lower on profit booking; trade jitters resume

Shares of metal companies such as Jindal Steel & Power, Tata Steel and JSW Steel plummeted in today's trade.

Dec 03, 2019 10:12 IST India Infoline News Service

Markets witnessed across-the-board selling pressure on Tuesday with both the Nifty and Bank Nifty indices closing lower for the third consecutive trading session.

The Bank Nifty index underperformed the Nifty index by 0.35% as major heavyweights such as SBI & HDFC Bank remained witnessed heavty selling.

Shares of metal companies such as Jindal Steel & Power, Tata Steel and JSW Steel plummeted, closing 6%, 5% & 4% lower, respectively, owing to the US President's comment to bring back tariffs on steel imports from Brazil and Argentina.

The market breadth ended in favor of declines with the advance/decline ratio closing at 1:2x.

Nifty and Bank Nifty futures added short positions.

On the options front (December 05, 2019 expiry), Nifty and Bank Nifty call option writing was seen in the out-of-the-money strikes as indices traded lower.

India Vix index closed at 14.5, up ~2.5 %.
 
Top 2 F&O Gainers: MFSL & BATAINDIA
Top 2 F&O Losers: YESBANK & IDEA
Nifty -54 @11,914
Bank Nifty -258 @31,613

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