Nifty falls 64 points, banks drag

Benchmark Nifty fell for the fifth consecutive session to hit over one-month lows after PSU banks sank on reports that RBI has demanded high provisioning for loans submitted under the insolvency process.
Profit-booking ahead of June derivative expiry and GST rollout on July 1 pulled down the shares as intense volatility led the key indices to crack below the key 9,500-level to trade at 9,473.45 intra-day.
The NSE was closed yesterday on account of 'Id-Ul-Fitr.
In overseas markets, Asian stocks witnessed mixed trend as investors waited for signals from central bankers' speeches.
European stocks were trading lower in their afternoon trade as a drop in auto stocks after Germany's Schaeffler cut its profit outlook and disappointment over a failed buyout of Stada spoiled investors sentiment.

The NSE 50-share Nifty index opened higher at 9,594.05 and hovered in a range of 9,615.40 and 9,473.45 before ending at 9,511.40, a fall of 63.55 points, or 0.66 per cent.

The index had settled at 9,509.75 on May 25.
It saw an intra-day movement of about 141.95 points.
Sector-wise, PSU Bank dropped 3.38 per cent, followed by media 2.69 per cent, bank 1.39 per cent, realty 1.29 per cent, private bank 1.15 per cent, financial service 1.09 per cent and IT 1.00 per cent.
In the broader market, the Nifty mid-cap and small-cap indices fell 1.30 per cent and 1.38 per cent, respectively.

Major index losers were Bank of Baroda (3.73 per cent), ACC (3.55 per cent), Zee (3.52 per cent), SBI (3.22 per cent) and Ultratech Cement (3.03 per cent).
Gainers included IOC (1.83 per cent), GAIL (1.57 per cent), Bharti Airtel (1.43 percent), ONGC (1.17 per cent) and Hero Motcorp (0.96 per cent).
A total of 1,309 scrips declined, 386 advanced, while 62 remained unchanged.
Total securities that hit their price bands were 136.
Turnover in the cash segment rose to Rs 24,855.88 crore from Rs 23,570.39 crore last Friday.
A total of 14,245.13 lakh shares changed hands in 89,62,487 trades.

The market capitalisation of listed firms on the NSE stood at Rs 1,23,25,549 crore.