Indian equity markets witnessed selling pressure in the closing hour of the trade with both Nifty and Bank Nifty indices closing in the red.
Nifty Bank index underperformed the benchmark index by ~0.5% with both the indices closing around the lowest trading point for the second day in a row.
Nifty Auto index closed ~1.5% lower with heavy short positions being formed in Maruti Suzuki. Nifty Midcap 100 index closed 0.1% higher.
Market breadth ended in the favour of the declines with advance/decline ratio closing at 1:1x.
Nifty & Bank Nifty futures added fresh open interest consisting mainly of short positions.
On the options front (April 25, 2019 expiry), across the board short selling was witnessed in at the money and out of the money Nifty call option strikes with Nifty 11700CE, adding ~9 lakh shares in open interest consisting of mainly short positions.
India VIX closed at 24.65, up ~2.5%.