Free Press Journal

Nifty slips 19 points to end lower, banks decline


Nifty down

Mumbai: The benchmark Nifty snapped its previous two session gains, slipped 18.60 points to end at 8,219.90 on bouts of profit-booking in recent gainers led by banking, PSUs, pharma, IT, energy and infra counters ahead of forthcoming Brexit polls.

The key indices opened positive note, but soon turned choppy reversing gains despite positive Asian trends as market players opted for caution due Thursday’s referendum in the UK, the negative bias narrow-range trade led the market to end in red.

The session saw auto segments saw buying interest followed by midcap and smallcap shares. Elsewhere, European markets were trading mixed after Germany’s Federal Constitutional Court ruled in favour of the European Central Bank’s (ECB) Outright Monetary Transactions or OMT unlimited bond-buying program created by the ECB at the height of Europe’s debt crisis in September 2012.

While, Asian shares ended mixed on growing expectations that British voters will opt to remain in the European Union in this week’s referendum. Japanese stocks edged higher as the yen eased from earlier gains against the US dollar.

Meanwhile, Foreign portfolio investors sold shares worth net Rs 537.46 crore yesterday, as per provisional data. The 50-share index resumed higher at 8,255.40 and hovered between 8,257.25 and 8,202.15 before close at 8,219.90, showing a loss of 18.60 points 0.23 per cent.

Major losers were Tata Power (2.33 per cent), Aurobindo Pharma (2.33 per cent), Adani Port (1.72 per cent), NTPC (1.72 per cent) and Tech Mahindra (1.71 per cent).

Notable gainers were Infratel (2.16 per cent), Hndalco (2.02 per cent), ONGC (1.73 per cent), Tata Motors (1.42 per cent), M&M (1.18 per cent).

A total of 813 scrips declined, 751 gained while 84 were unchanged. Turnover in cash segment declined to Rs 15,139.13 crore from Rs 16,642.73 crore yesterday. A total of 9,755.64 lakh shares changed hands in 68,64,043 trades.

The market capitalisation of NSE stood at Rs 99,45,965 crore.