Nifty declines for second straight session; down 73.75 points

Continuing its downward trend for the second straight session, NSE benchmark Nifty fell by 73.75 points to 11,355.75 on sustained selling in select counters, while rupee hit an all-time low against the dollar as global markets came under pressure amid continued turmoil in Turkish lira.

In global markets, stocks in Europe and Asia declined to a near one-year low, as Turkey's worsening currency crisis persuaded investors to sell equities, and run for safer assets such as government bonds and the dollar.

The Nifty 50 index fell 73.75 points or 0.65 per cent to 11,355.75. The index witnessed an intra-day movement of about 66.00 points.

On the sectoral front, PSU bank stocks fell by 3.22 per cent followed by media 2.97 per cent, energy 1.51 per cent, bank 1.17 per cent, Realty 0.95 per cent, private bank 0.89 per cent, metal 0.84 per cent and auto 0.76 per cent.

However, IT climbed by 1.37 per cent, Pharma 0.53 per cent and FMCG 0.02 per cent.

Major index gainers were GAIL, TechM, SunPharma, HCL Tech, Infosys, Cipla, Dr Reddy and Wipro.

Losers were BPCP, HindPetro, IOC, IbulHsgFin, SBIN, Eicher Motor, Zeel and Bajaj Finsv.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 571 stocks advanced, 1,252 declined and 71 remained unchanged.

Total securities that hit their price bands were 231.

Turnover in the cash segment fell to Rs 29,316.77 crore from Rs 33,596.48 crore yesterday.

A total of 14,777.46 lakh shares changed hands in 1,06,66,136 trades. The market capitalisation of listed firms on NSE stood at Rs 1,51,73,095.27 crore.