Nifty plummets over geopolitical concerns; PSU Banks plunge

Major heavyweights like Bajaj Finance & Zee Enterprises were among the top index losers, with 90% of the Nifty constituents closing in the red.

Jan 06, 2020 10:01 IST India Infoline News Service

Markets traded with negative bias throughout the day as-across-the-board selling pressure weighed in on account of rising geopolitical tensions between the US & Iran.

The Nifty PSU Bank index was the biggest loser, closing ~4% lower with all the sectoral indices closing in the red.

Major heavyweights like Bajaj Finance & Zee Enterprises were among the top index losers as 90% of the Nifty constituents closed in the red.

The market breadth ended in favour of declines with the advance/decline ratio closing at 1:4x.

Nifty & Bank Nifty futures added fresh short positions.

On the options front (January 9, 2019 expiry), across-the-board call option writing & short covering in put option strikes was seen as both Nifty and Bank Nifty indices trended lower.

India Vix index closed at 12.7, up ~21% during the week.
 
Top 2 F&O Gainers: TITAN & MINDTREE
Top 2 F&O Losers: IBULHSGFIN & NBCC
Nifty -234 @11,993
Bank Nifty -832 @31,237

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