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Markets closed higher; Banking stocks underperformed

Bank Nifty underperformed the Nifty index by ~0.9% with the former closing in the red while the later closing ~0.3% higher.

January 13, 2022 3:21 IST | India Infoline News Service
Bull and bear
Markets witnessed a positive day of trade, with the benchmark index trending higher during the closing part of the trade.

Bank Nifty underperformed the Nifty index by ~0.9% with the former closing in the red while the later closing ~0.3% higher.

Nifty Metal Index closed 3.5% higher as across the board buying was seen in major heavyweights like Jindal Steel, Jsw Steel & Tata Steel, contributing majority of the gains for the index, along with an addition of heavy long positions.

Nifty Midcap 100 index closed ~0.65% higher.

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

On the options front (January 27, 2021 expiry), across the board writing was seen in the put option strikes as the Nifty index trended higher. India Vix index closed at 16.7, down ~2.7%.
Top 2 F&O Gainers: POLYCAB & TATA STEEL
Top 2 F&O Losers: WIPRO & MOTHERSON SUMI
Nifty +45 @18,258
Bank Nifty -258 @38,470

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