Nifty ends below 10,700, down 94 points

Nifty ends below 10,700, down 94 points

Mumbai, Feb 5 (PTI) NSE benchmark Nifty dropped for the fifth straight session, falling 94 points to end below 10,700 -level, due to massive selling mainly in private banks, financials, metal and infra counters.

Back home, budget overhang loomed over the investor sentiment and also expectations that the Reserve Bank of India would turn more hawkish at its policy meeting later this week triggered sell-off.

While, good buying in auto, PSU bank and pharma stocks somewhat tried to capped the larger losses.

Overseas, European and Asian stocks declined following a sharp decline in US stocks.

The Nifty 50 index fell 94.05 points or 0.87 per cent to close at 10,666.55, its lowest closing level since January 11, 2018 and hovered in a range of 10,702.75 and 10,586.80.

It saw an intra-day movement of about 115.95 points.

On the sectoral front, financial service dropped 1.85 per cent followed by private bank 1.55 per cent, bank 1.33 per cent, metal 0.55 per cent, infra 0.54 per cent, realty 0.45 per cent, IT 0.36 per cent and energy 0.06 per cent.

While, auto gained by 0.75 per cent, PSU bank 0.57 per cent, pharma 0.30 per cent and FMCG 0.04 per cent.

Index gainers were Bharti Airtel, Tata Motors, Bosch Ltd, Hindustan Petroleum, PowerGrid, Coal India, Aurobindo Pharma and ITC.

Losers were HDFC, Larsen, Indusind Bank, Adani Ports, Kotak Bank, ONGC, Bajaj Auto and HDFC Bank.

The market breadth, indicating its overall health, was in favour of the losers. On the NSE, 684 stocks advanced, 1160 declined and 49 remained unchanged.

Total securities that hit their price bands were 370.

Turnover in the cash segment fell to Rs 36,898.47 crs from Rs 47,472.98 crore as on last Friday.

A total of 17,879.04 lakh shares changed hands in 13,400,141 trades. The market capitalisation of listed firms on NSE stood at Rs 1,46,10,513.37 crore. PTI ARR MKJ