Markets close lower; Reliance Industries, HDFC stocks underperformed

18 Jan 2022 , 03:35 PM

Domestic markets witnessed a sharp selloff during the closing part of the trade, as across the board profit booking weighed in. Nifty underperformed the Bank Nifty index by ~1% with both the indices closing around their intraday lows.

Across the board, selling was seen in major heavyweights with stocks like Reliance Industries and HDFC Ltd contributing the majority of the losses for the index, along with an unwinding of long positions.

The Nifty Midcap 100 index closed ~2% lower. Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:3x. Nifty saw an unwinding of long positions during the day.

On the options front (January 27, 2021 expiry), across the board writing was seen in the call option strikes as the Nifty index trended lower. India Vix index closed at 17.8, up ~6%.

Top 2 F&O Gainers:	CHOLA FIN & AXIS
Top 2 F&O Losers:	AMBUJA CEMENT & INDIA CEMENT
Nifty	-195 @18,113
Bank Nifty	-6 @38,210