Markets are high; Media stocks performed better

Markets saw a positive day of trading as the board weighed a narrow cover.

Bank Nifty surpassed the Nifty index by 0.3%, with both indices closing in the green. Bank heavyweights such as SBI and ICICI Bank saw a short cover during trading, which closed intraday highs.

The Nifty Media Index ended 4.5% higher with shares such as TV18, Network18 &Sun TV.

The Nifty Midcap 100 index closed 1.6% higher.

The market width ended in favor of improvements as the forecast/decline ratio ended at 4: 1x. The Nifty saw short envelopes during the day.

Before the options (expiring June 10, 2021), as the Bank Nifty was at a high level the board was seen throughout the board writing on the strike. The India Vix index rose 2% to 15.

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