Nifty drops another 34 pts on selling pressure

Persistent selling pressure mainly in banking, pharma, realty, finance and media sectors pulled down market benchmark Nifty by another 34 points to 8,709.55.
The NSE 50-share index opened higher at 8,768.70 and hovered in a range of 8,781.15 and 8,684.65 before finishing at 8,709.55, showing a loss of 34.40 points of 0.39 per cent.
The Nifty has dropped 59.60 points or 0.68 per cent in two days.
Among the major sectoral indices, PSU Bank fell by 1.80 per cent, Media 1.54 per cent, Realty 1.50 per cent, Pharma 1.05 per cent, IT 0.88 per cent, Bankex 0.73 per cent, Auto 0.72 per cent and Financial Services 0.57 per cent.

Major losers were Bank of Baroda (2.92 per cent), NTPC (2.30 per cent), Cipla (2.17 per cent) and Zee (2.17 per cent).
However, Gail India rose by 3.51 per cent, BPCL 3.20 per cent, Reliance Industries 1.96 per cent, HUL 1.55 per cent and Bharti Infratel 1.34 per cent.

A total of 625 scrips advanced, 1,013 declined, while 62 remained unchanged. Total securities that hit their price bands were 94.
Turnover in cash segment rose to Rs 22,278.94 crore from Rs 21,251.86 crore yesterday.
A total of 12,034.58 lakh shares changed hands in 8,743,731 trades. The market capitalisation of NSE stood at Rs 11,131,143 crore.