Nifty drops 134 pts on fiscal deficit fears

Benchmark Nifty slumped 134 points today after investors were spooked by grim fiscal deficit data.
India's fiscal deficit at the end of October hit 96.1 per cent of the budget estimate for 2017-18, mainly due to lower revenue realisation and rise in expenditure, official data showed.
Nifty saw volatility during the day as traders rolled over positions in the futures and options (F&O) segment. The November 2017 derivatives contracts expired today.
Overseas, Asian stocks ended lower, with the Hong Kong's Hang Seng falling 1.5 percent. European stocks were trading mixed in early trade.
The NSE Nifty opened lower at 10,332.70 and drifted further to 10,211.25, before finishing at 10,226.55, down by 134.75 points, or 1.20 per cent.

It saw an intra-day movement of 121.45 points.

The Nifty mid-cap slipped by 0.70 per cent, while the small-cap index rose by 0.07 percent.
Sector-wise, Realty rose 1.12 per cent.
However, PSU Bank dipped 2.31 per cent, followed by Private bank 1.81 per cent, Finance Service 1.81 per cent, Bank 1.80 per cent, Energy 1.53 per cent, Pharma 1.21 per cent, Auto 1.18 per cent, Metal 1.17 per cent, IT 1.05 per cent, Media 0.84 per cent, FMCG 0.59 per cent and Infra 0.49 per cent.
Major index losers were UPL, Hindalco, SBI, Reliance, Axis Bank, Aurobindo Pharma, Wipro and Tata Steel.

Gainers included GAIL, Bosch, Indiabulls Housing Finance, Dr Reddy's, Bharti Airtel, NTPC, HPCL and L&T.
The market breadth, indicating the overall health, was in favour of losers. On the NSE, 696 shares advanced, 1,032 declined, while 68 remained unchanged.
Total securities that hit their price bands were 173.
Turnover in the cash segment rose to Rs 49,597.48 crore, from Rs 28,727.28 crore yesterday.
A total of 21,103.96 lakh shares changed hands in 1,41,36,009 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,43,92,501.05 crore.