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Sensex, Nifty trade volatile; Dena Bank, Vijaya Bank stocks tumble

Oil marketing stocks were trading lower as crude oil prices inched higher. HPCL, BPCL, and IOC were down on 3-2% each in today’s trade.
Equity benchmark indices opened lower on Thursday amid mixed trends in Asian markets. Realty, FMCG, IT, and PSU Banks were trading higher, while Metal, Media, and Bank Nifty were in the negative zone.

The Sensex is up 10 points at 35,900, and the Nifty is down 14 points at 10,778. The market breadth is narrow with 741 shares advancing, while 723 shares declining, and 565 shares remaining unchanged.

Oil marketing stocks were trading lower with crude oil prices inching higher. HPCL, BPCL, and IOC were down on 3-2% each in today’s trade.

The board of directors of Dena Bank on Wednesday has approved the fair equity share exchange ratio for the merger of Dena Bank with Bank of Baroda. Reacting to this news, shares of Dena Bank slumped 18%, Vijaya Bank dropped 6%, while BoB rose 2%.

Cipla, Infratel, Titan, Asian Paints, and Infosys were the top gainers on the Nifty50, while HPCL, BPCL, Eicher, ONGC, and IOC lost in today’s session.

Volatility index India VIX rose 0.93% to 16.54.

The most active stocks were EicherTata Steel, BoB, HDFC Bank, and RIL.

The Indian rupee opened lower by 17 paise at 70.29 per dollar against yesterday's close of 70.17.

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