Nifty slipped 16.90 points amid selling

Press Trust of India-The benchmark Nifty slipped 16.90 points amid selling in key Infra, metal, banking, financials and energy counters to 8,381.10 at the National Stock Exchange (NSE).

Banking and financial stocks took a toll in today’s largely negative market momentum following yesterday’s RBI Financial Stability Report (FSR) stated a rise in bad loans which would be stressing out banks in near future.

Sentiments also affected by weak global peers as Greece failed again to clinch deal in its latest negotiations with its international creditors.

The market did try to recoup amid buying in IT, Auto and Realty shares recovering nearly 69 points to 8,408.55 during final hour trade but the gains were washed-out by selling pressure still capping the larger losses.

The broader mid-cap and small-cap traded listless to end flat.

Asian markets ended weak weighed by dwindling Greek sentiment, while European stocks also trading lower.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 280.21 crore yesterday, as per the provisional data.

The 50-share barometer opened lower at 8,393.95 and traded between 8,408.55 and 8,339.70 before closing at 8,381.10, showing a loss of 16.90 points, or 0.2 per cent, over its previous close.

Stockwise, top five losers were GAIL (3.21 per cent), Cairn (3.06 per cent), VEDL (2.64 per cent), Bhartiartl (2.05 per cent) and BHEL (1.97 per cent).

While, notable gainers were HCL Tech (3.36 per cent), Ultracem (1.84 per cent), TCS (1.68 per cent), Bajaj Auto (1.62 per cent) and NTPC (1.55 per cent)

Turnover in the cash segment plunged to Rs 14,485.15 crore from Rs 20,798.34 crore yesterday.

A total of 8,745.83 lakh shares changed hands in 67,88,284 trades and the total market capitalisation of NSE stood at Rs 98,58,988 crore.

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Pramod Baviskar

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