You are here: Home » PTI Stories » National » News
Business Standard

Nifty slips 32 points in see-saw trade, banks drag

Press Trust of India  |  Mumbai 

snapped its four sessions of gains, slipping 31.60 points, to finish at 8,192.90 following profit-booking in key and auto counters amid continued FII outflows and growth concerns.

Sustained selling by FIIs and subdued PMI manufacturing growth data hit hard by clouded mood. The Markit Manufacturing Purchasing Managers' Index (PMI), which fell to 52.3, down from a 22-month high of 54.4 in October, triggered investor concerns.


The possibility of surge led to selling at energy counters while auto stocks halted sustained gains amid profit-booking.

The market opened positive on strong numbers as well as core sector growth that hit a six-month high amid higher Asian cues. It see-sawed after data showed sharp deceleration in manufacturing PMI while lower European meant the index settled lower.

Meanwhile, the 14-member OPEC group of major producers reached an agreement to reduce their collective output, which sent crude price surging nearly 10 per cent.

FMCG and pharma witnessed some buying interest while metal, banking, IT, realty, infra and energy segments saw selling followed by midcap and smallcap shares.

The 50-share resumed higher at 8,244.00 and hovered between 8,250.80 and 8,185.05 before closing at 8,192.90, a loss of 31.60 points, or 0.38 per cent, from its previous close.

Overseas, Asian markets ended higher following an OPEC deal to cut output for the first time in eight years.

European shares fell in their afternoon trade today in a broad-based sell-off, halting a two-day rally and retreating from the previous session's three-week highs.

Stockwise, major losers were Idea (6 per cent), PowerGrid (3.96 per cent), (3.17 per cent), Hindalco (2.50 per cent), Tata Motors (2.42 per cent), ICICI Bank (2.41 per cent) and BPCL 2.34 (per cent).

Notable gainers were GAIL (3.51 per cent), InfraTel (2.96 per cent), Eicher (2.69 per cent), Sun Pharma (1.65 per cent) and Dr Reddy's (1.31 per cent).

A total of 1,034 scrips declined, 583 advanced while 52 remained unchanged. Total securities that hit their price bands were 115.

Turnover in the cash segment slumped to Rs 17,353.97 crore, from Rs 31,536.06 crore as on yesterday.

A total of 8,888.20 lakh shares changed hands in 7,580,311 trades. The market capitalisation of stood at Rs 10,553,008 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 19:32 IST
RECOMMENDED FOR YOU