Markets closed higher; Midcap stocks outperformed

Nifty Midcap100 index closed ~0.8% higher as broad-based buying was seen.

May 21, 2020 10:05 IST India Infoline News Service

Businessman showing growing charts
Markets ended the weekly option expiry day on a positive note, however the indices continued to remain volatile. Bank Nifty index underperformed Nifty by ~1% as fresh selling pressure was seen at higher level.

Financial stocks like Bajaj Finance, SBI, Axis Bank & Kotak Bank witnessed continued selling while ITC saw long additions, closing ~7% higher.

Nifty Midcap100 index closed ~0.8% higher as broad based buying was seen. Market breadth ended in the favour of the advances with the advance/decline closing at 3:2x.

Bank Nifty future added short positions as the index trended lower along with a rise in the open interest.

On the options front (May 21, 2020 expiry), across the board call option writing was seen as the Bank Nifty index trended lower.

India Vix index closed at 33, down 8%
Top 2 F&O Gainers: ITC & Indigo
Top 2 F&O Losers: Bandhan Bank & Chola Fin
Nifty +40 @9,106
Bank Nifty -105 @17,735

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