Markets closed higher; Banking stocks outperformed

Bank Nifty outperformed the Nifty index by ~1.3% with both the indices closing ~2.1%/0.8% higher

Apr 22, 2021 03:04 IST India Infoline News Service

Stock market report with bull and bear
Markets witnessed a volatile day of trade as a sharp second half rally erased the opening loses.    

Bank Nifty outperformed the Nifty index by ~1.3% with both the indices closing ~2.1%/0.8% higher.

Nifty Metal index was among the outperformers for the second consecutive trading session, closing ~1.7% higher with the major heavyweights like JSW Steel & Tata Steel adding fresh long positions.  

Nifty Midcap index closed ~0.4% higher.

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

On the options front (April 22, 2021 expiry), across the board writing was seen in the put option strikes as Bank Nifty trended higher. India Vix index closed at 23.1, up ~3%.
Top 2 F&O Gainers: IBULHSGFIN & NAVINFLO
Top 2 F&O Losers: PFIZER & COFORGE
Nifty +110 @14,406
Bank Nifty +670 @31,783

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