Nifty below 7,800-level, down 59 points on global woes

Equities pared the early gains amid selling in key FMCG, IT, bank, pharma, energy and auto counters as the benchmark Nifty shed 58.90 points to finish below the key 7,800-level.
Despite opening positive on somewhat mixed Asian trend, volatility crept during afternoon trade following Weak European opening as well as weak Chinese factory data rekindled renewed Global growth worries triggered domestic selling pressured as the market ended in red.
Selling was witnessed in most of the counters mainly led by IT which dropped by 1.73 per cent, followed by FMCG (1.27 per cent), PSU banks (1.31 per cent), metal (1.14 per cent), pharma (1.10 per cent), private banks (1.00 per cent), energy (0.92 per cent), commodity (0.87 per cent), financials (0.60 per cent) and auto (0.43 per cent).

The 50-share index opened higher at 7,824.80 and hovered between 7,890.25 and 7.735.15 before ending at 7,747.00, a loss of 58.90 points, or 0.75 per cent.
Elsewhere, Asian stocks ended mixed as Chinese stocks saw a divergent trend after the latest data showed deceleration in China's manufacturing activity in April 2016.
While, European shares were trading lower with Commerzbank leading the market lower after a profit slump, while mining stocks weakened as they tracked a decline in metals prices.

Stockwise, major losers were Coal India 3.29 per cent, Lupin 2.68 per cent, BHEL 2.55 per cent, ICICI Bank 2.49 per cent, Ambuja Cement 2.32 per cent and Infy 1.94 per cent.

While notable gainers include AuroPharma 4.34 per cent, BhartiArtl 2.95 per cent, Infratel 2.13 per cent, Idea 1.87 per cent, Grasim 1.76 per cent.
Turnover in cash segment climbed to Rs 18,409.63 crore compared with Rs 14,408.84 crore yesterday.
A total of 9,254.77 lakh shares changed hands in 76,44,066 trades. The market capitalisation of the NSE stood at Rs 94,56,783 crore.