Markets end higher with all sectoral indices in the green; FMCG stocks outperformed

Markets traded with a positive bias throughout the day, continuing the momentum from its stellar move in the last trading session.

Bank Nifty outperformed the Nifty index by ~2% with both the indices closing ~5.5% and 3.5% higher, respectively. Nifty FMCG index was the top outperformer closing ~5% higher, led by a strong rally in major heavyweights like HUL & ITC.

Across the board short covering was seen in stocks like Bandhan Bank, Indusind Bank and Piramal Enterprises.

Market breadth ended in the favour of the advances with the advance/decline closing at 5:2x.

Nifty and Bank Nifty futures witnessed short-covering as the indices saw a strong pullback.

On the options front (March 26, 2020 expiry), across the board put option writing was seen as both Nifty and Bank Nifty index trended higher.

India VIX index closed ~8% lower at 71.