Nifty below 8700, ends flat down 1.95 points

The benchmark Nifty closed marginally lower amid consolidation after hitting a fresh one year high in the morning following weak US Q2 GDP data, as investors waited for GST bill that is likely to be tabled for discussion in Parliament this week.
A sudden fag-end sell-off in Banking, Infra and FMCG dampened the sentiment, though buying in Technology, Metal and Auto stocks limited the fall.
The 50-share NSE Nifty failed to hold its fresh 52-week high of 8711.30 hit in morning trade, a sudden 'Sell-Off' spooked off all morning gains, thus ended flat at 1.95 points at 8636.55 levels.
In overseas stock markets, European stocks were mixed. Asian stocks rose as the chances of a US interest-rate increase diminished, after the nation's economic growth for the second quarter came in below expectations.

The 50-share Nifty resumed higher at 8,654.30 and hovered in a range of 8,711.30 and 8,590.50 before closing at 8,636.55, showing a marginal loss of 1.95 points or 0.02 per cent from its last Friday's close.
In sectoral front, Nifty PSU fell by 1.34 per cent, followed by infra (1.25 per cent), pvt banks (1.24 per cent), bank (1.12 pc) and finance service (0.61 pc).

Notable gainers were, IT climbed by 2.09 pct, Metal 1.50 pct, Media 1.22 pct and Auto 0.63 percent,
Index losers included, ICICI Bank (5.10 per cent), Larsen (4.18 percent), Bhel (2.78 percent), Bank Of Baroda (2.77 percent), Adaniport (1.66 pct) and Bosch Ltd (1.44 pct).

However, HCL Tech rose by (3.65 pct), followed by TCS (3.40 percent), Tata Steel (2.76 per cent), Wipro (2.32 pct) and Hindalco (2.28 per cent).
A total 1090 stocks declined, 609 advanced while 68 ruled stable. Total securities that hit their price bands today stood at 110.
Turnover in cash segment rose to Rs 24,270.12 crore from Rs 23,230.55 crore as on last Friday.
A total of 12,231.21 lakh shares changed hands in 85,10,243 trades. The market capitalisation of NSE stood at Rs 106,94,333.48 crore.