Nifty changing hands at 8,000 in dabba trades

After a volatile Friday, following the British citizens' decision to exit the European Union, the Nifty took a breather in dabba trades changing hands at 8,000-8,015 points amid thin volumes. Dabba trades are an informal and illegal way of trading outside the regulatory framework. The Nifty closed 182 points lower at 8,088.60 points on Friday, while Nifty Futures closed at 8,087 points.

However, dabba traders in Gujarat are quoting a lower Nifty amidst thin volumes because SGX Nifty futures closed at 8,049.50 points at 11:30 pm IST in Singapore.

According to a dealer, the FTSE benchmark index of the London Stock Exchange, despite falling 3.15 per cent to 6,140 on Friday, the day the referendum results were out, managed to close in positive territory on a weekly basis, rising 1.95 per cent over previous Friday.

"If UK's investors aren't so worried, why should Indian investors be worried?" asked a dealer. Nifty Futures had seen an intra-day low of 7,927 and recovered sharply from there. Market experts also say that while the EU authorities have asked the UK to exit as soon as possible, technically the referendum was for exiting the EU in end of 2017, which is some time away.