Global weakness drags Nifty below 10,700

The NSE 50-share Nifty fell 57 points to close at 10,657.30 today following widespread selling in metal, realty, energy, media and FMCG counters amid global trade tensions.

On the other hand, IT and PSU Banking ended in the positive zone.

Overseas, European shares were trading lower as on-going worries about the US trade policies and concerns about German Chancellor Angela Merkel's coalition weighed on sentiment.

Asian stocks tumbled, with trade tensions between the US and its trading partners still a key concern for investors.

The 50-stock NSE barometer Nifty slipped below the crucial 10,700-level to end at 10,657.30, showing a loss of 57 points, or 0.53 per cent. Intra-day, it shuttled between 10,736.15 and 10,604.65.

It saw an intra-day movement of about 131.50 points.

On the sectoral front, Metal fell by 1.79 per cent, followed by Realty 1.36 per cent, Energy 1.36 per cent, Media 1.12 per cent, Financial Service 0.68 per cent, Nifty Bank 0.51 per cent, Pharma 0.43 per cent, Auto 0.40 per cent and Private Bank 0.32 per cent.

IT rose by 0.59 per cent and PSU Bank 0.07 per cent.

Major index losers were NTPC 3.82 per cent, Bharti Airtel 3.64 per cent, Hindalco 3.15 per cent, Adani Ports 2.77 per cent and Indiabulls Housing Finance 2.45 per cent.

Gainers were Asian Paints 2.26 per cent, Titan 2.15 per cent, Infosys 2.10 per cent, Vedanta 1.55 per cent and UPL 0.95 per cent.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 609 stocks advanced, 1,196 declined and 76 remained unchanged.

Total securities that hit their price bands were 220.

Turnover in the cash segment fell to Rs 28,641.58 crore from Rs 29,376.44 crore last Friday.

A total of 14,765.63 lakh shares changed hands in 10,028,225 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,42,49,090 crore.