Markets close less; Bank shares are not active

Markets saw a negative day of trading as profit bookings were seen in major financial stocks.

Bank Nifty cut the Nifty index by 1% and both indices ended in the red. Bank stocks such as SBI, ICICI Bank, HDFC Bank, and Kotak Bank saw long positions unaware as profit bookings weighed.

The Nifty Midcap 100 index closed 0.6% higher.

Market width ended in favor of improvements as the forecast/decline ratio ended at 1: 1x. The Nifty has seen a slight separation of long positions during the day.

Before the options (expiring June 12, 2021), as the Bank Nifty was low, call options were seen onboard writing during strikes. The India Vix index ended 25.% lower at 15.25.

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