Markets close on a flat note; Banking stocks underperformed

Bank Nifty underperformed the Nifty index by ~0.8%.

Apr 06, 2021 03:04 IST India Infoline News Service

Stock market report with bull and bear
Markets witnessed a volatile day of trade with financial stocks continued to trade with a negative bias.

Bank Nifty underperformed the Nifty index by ~0.8% with the former closing in the red while the later closing in the green.

Financial heavyweights like SBI, ICICI Bank & HDFC Bank contributed to majority of the index loses.

Nifty FMCG index were the biggest outperformers with stocks like Asian Paints & Pidilite adding fresh long positions.

Nifty Midcap index closed, ~1% higher.

Market breadth ended in the favour of the advances with the advance/decline ratio closing at 2:1x. Bank Nifty added fresh short positions during the day.

On the options front (April 08, 2021 expiry), across the board writing was seen in the call option strikes as Bank Nifty trended lower. India Vix index closed at 20.75, down ~2%.
Top 2 F&O Losers: TRENT & MGL
Nifty +46 @14,684
Bank Nifty -178 @32,502

Related Story

Explore Important Blogs