Nifty closes below 8,000-mark, tumbles 85 points

The benchmark Nifty dropped to over one month low of 7,955.45 as caution gripped markets following US Fed chief Janet Yellen's statement that December rate hike is still on the table.
Across the board selling was the order of the day as anxiety dominated trading sentiment. Asian stocks too moved into the red on concerns that US Federal Reserve hiking rates next month would lead to global investors junking emerging economies.
The momentum was further squeezed ahead of the Bihar exit polls as the final round of voting in the state concluded today. The index tumbled to a low of 7,944.10, before ending negative for the day.

Index wise, selling was led by realty (2.74 per cent), pharma (2.25 per cent), PSU banks (1.90 per cent), metal (1.88 per cent), media (1.74 per cent), banks (1.31 per cent), financials (1.27 per cent), IT (1.19 per cent) and infra (1.11 per cent).
While midcap index lost 2.03 per cent, smallcap dropped 1.80 per cent.
The 50-share Nifty index resumed lower at 8,030.35 and traded between 8,031.20 and 7,944.10 before closing at 7,955.45, showing a loss of 84.75 points or 1.05 per cent.

Elsewhere, Asian shares ended mostly lower, while European markets were trading narrowly mixed.
Stockwise, Vedanta Ltd slumped 4.71 per cent, followed by Sun Pharma (4.29 per cent), Tata Steel (4.25 per cent), BHEL (3.31 per cent), Kotak Bank (3.31 per cent), Yes Bank (2.78 per cent), Axis Bank (1.84 per cent), RIL (1.55 per cent) and ICICI Bank (1.21 per cent).

Turnover in cash segment fell to Rs 14,053.51 crore from Rs 14,578.01 crore yesterday. A total of 7,346.31 lakh shares changed hands in 63,52,138 trades.
The market capitalisation of NSE stood at Rs 95,51,635 crore.