Markets close on a bearish tone; Pharma stocks underperformed

Pharma Stocks was among the top underperformers, contributing the majority of Nifty’s loses.

Jul 27, 2021 03:07 IST India Infoline News Service

Bear Market
Markets witnessed a heavy selling pressure throughout today’s trade with large cap stocks underperforming the broader markets.

Both Nifty and Bank Nifty index closed ~0.4% lower.

Pharma Stocks was among the top underperformers, contributing majority of Nifty’s loses, with Dr Reddys leading the laggards, closing ~10 % lower.  

Nifty Midcap 100 index underperformed the benchmark index, closing ~0.4% lower.

Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:1x. Nifty saw an addition of short positions during the day.

On the options front (July 29, 2021 expiry), across the board writing was seen in the call option strikes as the Nifty index trended lower. India Vix index closed at 13.3, up ~7%.
Top 2 F&O Gainers: MANAPPURAM & PFIZER
Top 2 F&O Losers: APLLTD & DRREDDYS
Nifty -80 @15,745
Bank Nifty -153 @34,796

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