Indian equity markets are trading on a negative note with both Nifty & Bank Nifty index trading lower.
Reliance Industries is trading ~2% higher backed by media reports suggesting a possible 25% stake sale in its refining arm to Aramco.
Nifty Bank index is underperforming the benchmark index with profit booking seen in major heavyweights like ICICI Bank, Kotak Bank & SBI, all trading in red.
Nifty & Bank Nifty weekly put options are witnessing a formation of long vega positions as the implied volatility soars.
India VIX is trading at 22.9, up 5.5%
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