Mid-cap stocks bleed, Nifty ends lower for 5th consecutive session

Markets witnessed heavy selling pressure after opening the session marginally in the green. Mid-cap stocks bore much of the brunt with Nifty Mid-cap 100 index ending the session 1.70% lower.

Bank Nifty relatively outperformed due to the strong gains in PSU Bank stocks. Bank of India, PNB and Union Bank led the rally ending 4.82%, 4.55% and 4.44% higher respectively. Market breadth ended in favor of declines, with advance/decline ratio closing at 1:4x

Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a surge in open interest to the tune of ~1.79 lakh shares and ~84 thousand shares consisting of mainly short positions. 

Tracking the Nifty Index Options, call writing was witnessed in at the money and major out of the money strikes with 10600CE and 10700CE adding ~15.25 lakh shares and ~6.62 lakh shares respectively, while 10500PE added 5.41 lakh shares acting as the current support for the market. 

Referance By - https://www.indiainfoline.com/article/commentaries-equity-post-market/mid-cap-stocks-bleed-nifty-ends-lower-for-5th-consecutive-session-118052100030_1.html