Markets closed lower; Banking stocks underperformed

Bank Nifty underperformed the Nifty index by ~0.5%.

Apr 19, 2021 03:04 IST India Infoline News Service

Bear Market
Markets witnessed a big selloff with major sectoral indices closing with the deep cuts.  

Bank Nifty underperformed the Nifty index by ~0.5% with both the indices closing ~2.3%/1.8% lower.

Nifty Pharma index was among the outperformers, closing ~0.3% higher with the major heavyweights like Lupin, Cipla & Aurobindo Pharma contributing majority of the index gains.

Nifty Midcap index closed ~2.2% lower.

Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:4x. Bank Nifty saw an addition of short positions during the day.

On the options front (April 22, 2021 expiry), across the board writing was seen in the call option strikes as Bank Nifty trended lower. India Vix index closed at 22.5, up ~10%.
Top 2 F&O Losers: RBL & AUBANK
Nifty -258 @14,359
Bank Nifty -769 @31,208

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