Post a negative opening, the Nifty continued to witness selling pressure amid high intraday volatility. It finally closed the session after losing another 45 points The Nifty future premium increased and settled at 46 points. India VIX declined 1.15 percent and closed at 19.64. FIIs bought Rs 412 crore in cash. In index futures, FIIs sold Rs 1087 crore while in index options they bought Rs 668 crore. In stock futures, they sold Rs 334 crore.
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The market continued to trade weak in morning session, as the Nifty fell 0.5 percent, weighed down by banks, FMCG and auto stocks. The Sensex is down 76.27 points at 20589.88, and the Nifty is down 31.25 points or 0.51 percent at 6109.50.
Dena Bank and United Bank of India shares plunged 7-8 percent post disappointing set of numbers in the quarter gone by. Dean Bank's net profit fell 55 percent year-on-year to Rs 107.4 crore and United Bank of India posted a net loss of Rs 489.5 crore during second quarter as against profit of Rs 144.6 crore in a year ago period. Higher provisions and weak asset quality impacted profits of both banks. Country's largest lenders State Bank of India, ICICI Bank and HDFC Bank slipped 1-1.6 percent while housing finance company HDFC declined 0.3 percent.
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