Nifty cracks below 8,200-level, drops 188 points

Market pain mounted as Nifty cracked below 8,200-level to hit five-month low of 8,108.45, dropping 187.85 points on heavy selling pressure led by FMCG, Auto, Banking and Metal counters amid weak rupee and heavy capital outflows on surging US bond yields.
The demonetisation drive contributed to the cash crunch while weak quarterly ruled the index momentum in today's trade when the market opened on negative note and dipped to day's low of 8,093.20.
Meanwhile, wholesale price index (WPI) eased for the second consecutive month, falling to 3.39 per cent in October as food articles, led by vegetables, witnessed softening of prices.

The 50-share Nifty opened lower at 8,284.85 and hovered between 8,288.55 and 8,093.20 before finishing at 8,108.45, showing a fall of 187.85 points, or 2.26 per cent, from its last close.
Elsewhere, Asian markets ended narrowly mixed, while European stocks were trading higher in afternoon trade as the US dollar stood near a 13-and-a-half-year high and treasury yields continued to rise on anticipation that the US President-elect Donald Trump's policies will stoke inflation.
Counterwise, Auto plunged 5.15 per cent, followed by realty 5.14 per cent, Metal 5.07 per cent, Commodities 4.04 per cent, Media 3.98 per cent, Private Bank 3.31 per cent, Consumption 3.25 per cent, Financials 2.51 per cent, FMCG 2.49 per cent, Banks 2.27 per cent, Energy 1.52 per cent, Infra 1.51 per cent and Pharma 1.41 per cent.

Stockwise, major losers were Tata Motors (9.84 per cent), Tata Motor DVR (9.62 per cent), Grasim (8.87 per cent), IndusInd Bank (8.32 per cent), Tata Steel (7.84 per cent), Ultrachem (7.43 per cent), Asian Paints (7.43 percent), Maruti (5.60 per cent) and Bajaj Finance (5.02 per cent).

Notable gainers were Bank of Baroda (8.60 per cent), Idea Cellular (2.00 per cent), SBI (1.90 per cent), Dr Reddy's (1.67 per cent) and Wipro (1.27 per cent).
Meanwhile, FPIs sold shares worth a net Rs 1,493.27 crore on last Friday as per provisional data released by stock exchanges.
A total of 1,518 scrips declined, 169 advanced while 26 remained unchanged.

Turnover in the cash segment jumped to Rs 32,457.78 crore, from Rs 26,089.22 crore last Friday.
A total of 13,657.60 lakh shares changed hands in 1,24,82,466 trades.
The market capitalisation of NSE listed companies stood at Rs 1,02,60,299 crore.