Nifty decline 6 pts; Energy, metal drag

The S&P CNX Nifty declined by 6.35 points to finish at 8,693.05 on selling in key energy, metal, PSU Bank, financials and commodities counters amid reduced RIL earnings and prospects of US Fed rate hike.
The market opened on positive note tracking initial favourable Asian trend, but soon succumbed to selling pressure as investors digested energy major Reliance Industries' overnight 23 per cent drop in its second quarter consolidated net profit and prospect of US rate hike this year on healthy economic index data.
Mute trading momentum saw buying interest in key FMCG, IT, banking, auto, pharma and infra stocks supported by the secondline midcap and smallcap counters which restricted the larger fall.

Elsewhere, Asian markets ended mixed as as investors remained on the sidelines after the European Central Bank (ECB) kept its policy rate unchanged after a monetary policy meeting yesterday, while European markets were also trading mixed in afternoon trade.
The 50-share Nifty opened higher at 8,708.60 and moved in a range of 8,709.10 and 8,652.05 before finishing at 8,693.05, showing a loss of 6.35 points or 0.07 per cent from its last close.
Stockwise, the losers were ACC (2.69 per cent), Axis Bank (2.58 per cent), Ambuja Cement (2.39 per cent), Cipla (2.24 per cent), Hindalco (2.19 per cent), Reliance (2.15 per cent) and HDFC (1.72 per cent).

Notable gainers included Idea (2.17 per cent), TechM (2.14 per cent), Tata Power (2.01 per cent), HCL Tech (1.99 per cent) and IndusInd Bank (1.45 per cent).

A total of 804 scrips declined, 840 advanced while 72 remained unchanged. Total securities that hit their price bands were 101.
Turnover in cash segment fell to Rs 20,280.97 crore from Rs 20,517.52 crore yesterday.
A total of 11,245.96 lakh shares changed hands in 7,787,311 trades. The market capitalisation of NSE stood at Rs 11,182,809 crore.