Markets closed higher; Banking stocks outperformed

Bank Nifty outperformed the Nifty index by ~1.5% for the third consecutive trading session.

Apr 28, 2021 03:04 IST India Infoline News Service

Markets witnessed a positive day of trade as across the board buying frenzy weighed in.  

Bank Nifty outperformed the Nifty index by ~1.5% for the third consecutive trading session with both the indices closing ~3%/1.5%.

Index heavyweights like HDFC Twins, Bajaj Twins, SBI & ICICI Bank were among the top outperformers, adding fresh long positions during the trade.  

Nifty Midcap index closed ~1% higher.

Market breadth ended in the favour of the advances with the advance/decline ratio closing at 3:2x. Nifty saw an addition of long positions during the day.

On the options front (April 29, 2021 expiry), across the board writing was seen in the put option strikes as Nifty trended higher. India Vix index closed at 22.55, down ~2%.
Top 2 F&O Gainers: TVS MOTOR & BAJAJ FIN
Top 2 F&O Losers: NAVINFLO & BIOCON
Nifty +212 @14,864
Bank Nifty +987 @33,723

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