Nifty snaps 3-day rally, slips 41 pts to 10,700

Nifty snaps 3-day rally, slips 41 pts to 10,700

Mumbai: NSE benchmark Nifty snapped its three-day winning streak today to end 41 points lower at 10,700.45, weighed down by selling in realty, metal, PSU bank, energy, infra, FMCG and auto stocks.

Gains in IT sector cushioned the losses.

Overseas, most European stocks edged higher as investors awaited the release of corporate earnings. Asian stocks gained, erasing early losses.

US stock markets were closed yesterday.

The NSE Nifty opened higher at 10,761.50 points and moved in a range of 10,762.35 and 10,687.85 before ending at 10,700.45 points, down 41.10 points, or 0.38 per cent.

It saw an intra-day movement of about 74.50 points.

On the sectoral front, IT was the lone gainer, jumping 3.65 per cent.

Realty dropped by 3.38 per cent, followed by PSU Bank 2.81 per cent, metal 2.84 per cent, energy 2.12 per cent, auto 1.25 per cent, FMCG 1.09 per cent, infra 1.06 per cent, media 0.68 per cent and finance service 0.45 per cent.

Major gainers were Wipro, HCL Tech, TCS, Infosys, Tech Mahindra, Zee, Dr Reddy’s, ICICI Bank, HUL and Adani Ports.

Losers included Coal India, HPCL, Bajaj Finance, RIL, Vedanta, Aurobindo Pharma, Tata Steel and Indiabulls Housing Finance.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 340 stocks advanced, 1,491 declined and 40 remained unchanged.

Total securities that hit their price bands were 273.

Turnover in the cash segment rose to Rs 38,604.19 crore from Rs 34,037.93 crore as on Monday.

A total of 22,338.75 lakh shares changed hands in 13,749,922 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,51,86,371.80 crore.