Markets close higher, Reliance Industries shares outperform

9 Mar 2022 , 03:30 PM

Markets witnessed a strong upward momentum throughout the trade as across the board short covering weighed in. Both Nifty and Bank Nifty index closed in the green, gaining ~2% each.

Across the board buying was seen in major largecap heavyweights with stocks like Reliance, HDFC Bank & ICICI Bank contributing majority of the gains for the index, along with an unwinding of short positions.

Nifty Midcap 100 index closed ~2.2% higher. Market breadth ended in the favour of the advances with the advance/decline ratio closing at 4:1x. Bank Nifty saw an unwinding of short positions during the day.

On the options front (March 31, 2021 expiry), across the board writing was seen in the put option strikes as the Bank Nifty index trended higher. India Vix index closed at 27.3, down ~4.3%.

Top 2 F&O Gainers:	IBULHSGFIN & DALMIA BHARAT
Top 2 F&O Losers:	COFORGE & BOSCH
Nifty	+357 @16,370
Bank Nifty	+739 @33,897