2 Na(s) + Cl₂ (g) → 2 NaCl (s)

In this reaction, there is loss of electrons i.e., oxidation, whereas, another part involves gain of electrons i.e. reduction. Identify the correct option. 

Sodium, is oxidized, acts as a reducing agent because it donates electrons to each of the elements interacting with it and thus helps in reducing them. Chlorine on the other hand is reduced and acts as oxidizing agents because these accept electrons from sodium.