Both Nifty and Bank Nifty saw a sharp short covering rally during the closing part of the trade after taking a nose dive during the afternoon trade.
Stocks from the PSE sector like Coal India, HPCL & NTPC were among the outperformers adding fresh long positions, while the IT & Financial stocks underperformed.
Nifty Midcap 100 index closed ~0.7% lower.
Market breadth ended in the favour of the declines with the advance/decline ratio closing at 2:3x. Bank Nifty saw an unwinding of long positions during the day.
On the options front (September 30, 2021 expiry), across the board writing was seen in the call option strikes as the Bank Nifty index trended lower. India Vix index closed at 18.5, up ~2.5%.
|Top 2 F&O Gainers:||BHEL & MARUTI|
|Top 2 F&O Losers:||MINDTREE & COFORGE|
|Bank Nifty||-298 @37,273|