Nifty drops by 78 pts due to selling pressure

The NSE Nifty dropped by 78 points to close at 7,908.25 today due to fresh selling pressure from operators on fears of hike in long term capital gains tax.
Heavy foreign capital outflows also affected the market sentiment.
The Nifty opened lower at 7,965.10 and moved in a range of 7,970.05 and 7,893.80 before ending at 7,908.25, showing a fall of 77.50 points or 0.97 per cent from its last close.
On the sectoral front, Realty fell by 3.64 per cent, followed by Metal (3.02 per cent), PSU Bank (2.70 per cent), Pharma (2.63 per cent), Media (2.05 per cent), Auto (1.47 per cent), Energy (1.33 per cent), Bank (1.28 per cent), Infra (1.20 per cent), Pvt Bank (1.11 per cent), Finance Service (1.05 per cent) and IT (0.47 per cent).

The only gainer was FMCG by 0.16 per cent.
Major losers were Hindalco (4.90 per cent), Cipla (4.70 per cent), Bank of Baroda (3.69 per cent), Aurobindo Pharma (3.56 per cent) and Eicher (3.10 per cent).

However, HUL gained by 1.56 per cent, TCS 0.22 per cent, Bharti Airtel 0.19 per cent, ITC 0.13 per cent and Larsen 0.01 per cent.
A total of 1,388 scrips declined, 245 advanced while 60 remained unchanged. Total securities that hit their price bands were 121.
Turnover in the cash segment fell to Rs 13,142.71 crore from Rs 15,265.82 crore as on Friday.
A total of 6,625.40 lakh shares changed hands in 5,951,623 trades. The market capitalisation of NSE stood at Rs 10,062,765 crore.