Nifty ends lower by 16 points in volatile session

Mumbai: The benchmark CNX Nifty ended lower on fag-end selling pressure amid highly volatile trade, losing 15.95 points to 8,114.70 at the National Stock Exchange (NSE). Earlier the bourses traded mostly in range amid see-saw momentum, later rose sharply over sixty points in during afternoon sparked by value-buying and news of much-awaited monsoon arrival in Kerala, but later languished by selling pressure wavered by lower European opening towards the tail-end, drifted the index to close lower.

Rate sensitive stocks continue to bore the brunt with respective indices of banking and finance, psu banks, realty, auto and IT segments saw selling. While, good bouts of value buying in FMCG, infra, energy, metal and pharma counters supported the market, also the broader midcap and smallcap shares ended flat.

The 50-share Nifty resumed lower at 8,119.15 and traded between 8,191.00 and 8,100.15 before closing at 8,114.70, showing a modest loss of 15.95 points, or 0.2 per cent. Major Nifty losers were Ambuja Cement (3.14 per cent), ACC (2.21 per cent), Ultracemco (2.15 per cent), ICICI Bank (2.07 per cent), Tata Motor (2.02 per cent), HCL Tech (1.24 per cent) HDFC (1.20 per cent) and TCS (1.14 per cent).

The gainers include Coal India (4.32 per cent), Zeel (3.46 per cent), GAIL (3.21 per cent), IDEA (2.76 per cent), and NMDC (2.34 per cent). Meanwhile, foreign portfolio investors bought shares worth a net Rs 511.90 crore yesterday, as per provisional data. Elsewhere, most Asian markets ended lower, also European stocks opened weak amid lingering uncertainty over Greece debt concerns.

Turnover in the cash segment eased to Rs 15,088.46 crore from Rs 15,660.88 previously. A total of 7,637.26 lakh shares changed hands in 68,66,864 trades and the total market capitalisation of the NSE stood at Rs 95,98,700 crore.