Nifty breaches 8K-mark intraday, down 38 pts at close

Nifty breaches 8K-mark intraday, down 38 pts at close

The CNX Nifty index today fell to a low of 7,961.35 intra-day but recovered later on buying in some key counters, but survived to close above 8K-level, still showing a fall of 38 points to end at 8,029.80 on global nervousness amid constant capital outflows.

Weak European opening and mixed Asian closing on the back overnight fall on Wall Street also put pressure on the market.

The broad-based 50-share CNX Nifty of the National Stock Exchange resumed lower and rotated in a range of 8,082.00 and 7,961.35 before concluding at 8,029.80, revealing a fall of 37.80 points or 0.47 pct.

In five sessions in a row, it has stumbled by 325.85 points or 3.90 pct.
Russian currency turmoil amid lack of major trigger from overseas also impacted negatively on the market.

Auto, FMCG, Infra, Pharma and realty counters registered losses while PSU Bank and metal stocks attracted good buying support.

Two-tier stocks were at the receiving end for the last few days on retail investors offloading.

Top five losers from the Nifty were DLF 4.06 pct, Asian paint 3.63 pct, Kotak Bank 3.03 pct, Cipla 2,87 and Cairn India 2.74 pct while gainers were SSLT 3.77 pct, ONGC 2.22 pct, NMDC 2.16 pct, SBI 2.08 pct and Hindalco 1.62 pct.

Turnover in the cash segment improved further to Rs 20,021.37 crore from Rs 18,260.22 yesterday. A total of 9,911.25 lakh shares changed hands in 92,57,684 trades, while market capitalisation stood at Rs 91,61,386 crore.

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