Markets close lower; Reliance Industries underperformed

6 Jan 2022 , 03:45 PM

Markets witnessed a negative day of trade, with the benchmark index trending lower for the major part of the trade.

Nifty underperformed the Bank Nifty index by ~0.5% with both the indices closing in the red with a ~1.%/0.5% cut.

Across the board selling was seen in major heavyweights with Reliance Industries among the top index loser, closing of ~2.1% lower along with an unwinding of fresh short positions.

Nifty Midcap 100 index closed ~0.1% higher.

Market breadth ended in the favour of the declines with the advance/decline ratio closing at 2:3x. Nifty saw an addition 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 18, up ~4%.

Top 2 F&O Gainers:	GUJGAS & NBCC
Top 2 F&O Losers:	PERSISTENT & JSW STEEL
Nifty	-179 @17,746
Bank Nifty	-206 @37,490