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Markets closed lower; IT Stocks underperformed

Nifty underperformed the Bank Nifty index by ~0.5%.

January 19, 2022 3:38 IST | India Infoline News Service
Markets witnessed a sharp selloff during the major part of trade, as across the board profit booking weighed in.

Nifty underperformed the Bank Nifty index by ~0.5% with both the indices closing in the red, down by ~1%/0.5%.

Nifty IT index closed 2.2% lower with major heavyweights like TCS, Tech M & Infosys contributing majority of the loses for the index, along with an unwinding of long positions.

Nifty Midcap 100 index closed ~0.1% lower.

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

On the options front (January 27, 2021 expiry), across the board writing was seen in the call option strikes as the Nifty index trended lower. India Vix index closed at 17.8, down ~0.2%.
Top 2 F&O Gainers: BIOCON & TATA POWER
Top 2 F&O Losers: LTTS & INFOEDGE
Nifty -175 @17,938
Bank Nifty -169 @38,041

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