Markets close higher; Banking stocks outperformed

3 Jan 2022 , 03:39 PM

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

Bank Nifty outperformed the Nifty index by ~1% with both the indices closing around intraday highs, gaining ~2.5%/1.5%.

Financial stocks were among the top outperformers with stocks like like ICICI Bank, Kotak Bank, SBI & HDFC Bank addition fresh long positions.

Nifty Midcap 100 index closed ~1.2% higher.

Market breadth ended in the favour of the advances with the advance/decline ratio closing at 3:1x. 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 put option strikes as the Nifty index trended higher. India Vix index closed at 16.4, up ~1.2%.

Top 2 F&O Gainers:	COAL INDIA & FEDERAL BANK
Top 2 F&O Losers:	LAURASLABS & CIPLA
Nifty	+272 @17,626
Bank Nifty	+940 @36,422