Markets closed lower; PSE stocks outperformed

Nifty PSE index was among the top outperformers for the second consecutive trading session, closing ~3% higher

May 11, 2021 03:05 IST India Infoline News Service

Market Crisis
Markets witnessed a negative day of trade, however broader markets saw buying momentum during the second half of the trade. Bank Nifty underperformed the Nifty index by ~0.2% with both the indices closed ~0.8%/0.6% lower.

Nifty PSE index was among the top outperformers for the second consecutive trading session, closing ~3% higher as the stocks like Coal India, Gail, NTPC & BHEL witnessed a big surge along with an addition of fresh long positions. Nifty Midcap index closed ~0.7% higher. Market breadth ended in the favour of the advances with the advance/decline ratio closing at 2:1x. Nifty saw a marginal unwinding of long positions during the day.

On the options front (May 13, 2021 expiry), across the board writing was seen in the call option strikes as Nifty trended lower. India Vix index closed at 19.85, down ~2%.
Top 2 F&O Gainers: BHEL & COAL INDIA
Top 2 F&O Losers: SAIL & HINDALCO
Nifty -92 @14,851
Bank Nifty -270@32,872

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