Nifty Tumbles, Down 68 Points On Weak Global Cues
The NSE Nifty opened lower at 10,171.95 and moved in a range of 10,175.45 and 10,094.00 before ending at 10,118.05, dropped by 68.55 points, or 0.67 per cent from its last close
The NSE Nifty dropped by 68 points to extend its fall for the third straight session following all-round selling pressure weighed by weak global cues post fall in crude oil prices and widening trade deficit in October.
Anupam Singhi, CEO, MarketSmith India said, "Nifty benchmark opened on a negative note amid bearish global cues and continued to be sluggish as the data showing widening of Indias trade deficit hurts the investor sentiments."
The NSE Nifty opened lower at 10,171.95 and moved in a range of 10,175.45 and 10,094.00 before ending at 10,118.05, dropped by 68.55 points, or 0.67 per cent from its last close. It saw an intra-day movement of about 81.45 points.
The broader indices underperformed the benchmark indices, with both the Nifty Midcap and Smallcap indices fell by 1.09 and 1.88 per cent, respectively. Sector-wise, Metal tumbled by 2.96 percent followed by Pharma 1.99 percent, Realty 1.80 percent, Infra 1.25 percent, FMCG 1.20 per cent, PSU Bank 1.13 percent, Media 1.08 percent, Auto 0.48 percent, Energy 0.45 percent, IT 0.41 percent, Fin Service 0.40 percent, Bank 0.26 pct and Pvt Bank 0.12 percent.
Major index gainers were, BPCL, AsianPaint, Ambuja Cement, TechM, EicherMotor, HindPetro and Kotak Bank. Losers included, Infratel, Sunpharma, Vedl, Hindalco, UPL, HCL Tech, Bosch Ltd and ONGC. The market breadth, indicating the overall health of the market was weak. On the NSE, 375 stocks advanced, 1,394 declined and 51 remained unchanged.
Total securities that hit their price bands were 204. Turnover in the cash segment fell to Rs 30,570.08 crore from Rs 33,869.84 crore as on Tuesay. A total of 15,298.46 lakh shares changed hands in 10,870,654 trades. The market capitalisation of listed firms on NSE stood at Rs 1,39,90,589.74 crore.