Nifty settles below 11,000-mark as pharma, metal stocks fall
NSE benchmark Nifty ended below the 11,000-level at 10,936.85 on broad based selling led by healthCare, metal, realty, PSU bank, media, auto and energy stocks on the back of subdued global peers and rising inflation hurting sentiment.
Resuming flat, the market turned volatile and traded negative and in range till afternoon, caution ruled hit by country's widening trade deficit, rise in WPI inflation and sustained capital outflows from Indian equities, while weak global cues triggered selling pressure in most of the sectors as key indices ended with steep losses.
Overseas, most markets in Asia declined after mixed economic data out of China spurred selling. Market in Japan was shut for a holiday.
European stocks were trading mixed in early deals.
The broader midcap and smallcap shares also saw substantial losses.
The 50-share NSE Nifty ended below 11,000-level at 10,936.85, losing 82.05 points, or 0.74 per cent. It moved between 10,926.25 and a high of 11,019.50.
Sector-wise, Pharma fell 4.12 per cent, Metal 3.61 per cent, Realty 3.32 per cent, PSU Bank 2.52 per cent, Media 2.45 per cent, Auto 1.53 per cent, Energy 1.43 per cent, Bank 0.95 per cent, Pvt Bank 0.87 per cent, Finance Service 0.67 per cent and FMCG 0.20 per cent.
IT rose by 0.57 per cent.
Major index gainers were Tech Mahindra, NTPC, Infosys, Ibul Hsg Finance and HDFC.
Losers included Dr Reddy, Tata Steel, Lupin, Sun Pharma and Tata Motors.
The market breadth, indicating the overall health of the market, was in favour of losers. On the NSE, 295 stocks advanced, 1,527 declined and 76 remained unchanged.
Total securities that hit their price bands were 265.
Turnover in the cash segment fell to Rs 27,765.97 crore from Rs 29,592.72 crore on last Friday.
A total of 13,198.40 lakh shares changed hands in 10,232,503 trades. The market capitalisation of listed firms on NSE stood at Rs 1,44,19,300 crore.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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