Nifty drops below 8,900-level, down 46 pts

Benchmark Nifty dropped 46 points to close at 8,899.75 today due to fag-end selling in realty, media, banking, FMCG, pharma and infra counters amid weak global cues.
Foreign capital outflows also affected the market sentiment.
The NSE 50-share Nifty resumed higher at 8,982.85 and hovered in a range of 8,992.50 and 8,879.80 before ending at 8,899.75, showing a loss of 46.05 points or 0.51 per cent.
Major losers were BPCL (3.38 per cent), Idea (3.22 per cent), Adani Ports (2.86 per cent), Sun Pharma (2.66 per cent) and NTPC (2.50 per cent).
However, Tata Motors rose 2.73 per cent, UltraTech Cement 2.32 per cent, Bajaj Auto 2.28 per cent and Hero Motoco 1.61 per cent.

A total of 1,266 stocks declined, 396 advanced while 69 remained unchanged. Total securities that hit their price bands were 104.
Turnover in cash segment rose to Rs 24,761.20 crore from Rs 22,741.93 crore yesterday.
The market capitalisation of NSE stood at Rs 11,519,926.10 crore.