Nifty continues to decline for the 4th day, dn 16 pts

The CNX Nifty continued to decline for the fourth consecutive day, ending lower by another 16 points to 8,319.00 on sustained selling pressure mainly in Pharma and Energy sectors on weak corporate earnings.
Sharp fall in Chinese market also affected the market sentiment to some extent.
The CNX Nifty resumed higher at 8,345.70 and hovered in a range of 8,364.50 and 8,270.15 before ending at 8,319.00, disclosing a loss of 15.60 points or 0.19 pct.
The CNX Nifty has dropped by 139.95 points or 1.65 per cent in the four days.
The CNX Pharma fell by 1.55 pct and Energy by 0.61 pct.

Major CNX Nifty losers were Cipla 2.59 pct followed by Tata Power 2.31 pct, Sun Pharma 2.13 pct, M&M 2.02 pct and Grassim 1.87 pct.
However, VEDL rose by 2.69 pct, Tata Motors by 2.67 pct, BPCL 2.61 pct Infosys 2.44 pct and PNB 1.96 pct.
Turnover in the cash segment rose to Rs 22,431.71 crs from Rs 17,897.25 yesterday. Total of 8,592.19 lakh shares changed hands in 75,26,636 trades and the total market capitalisation of the NSE stood at Rs 99,05,570 crore.