Nifty drops on late selling, ends down 102 points

Equities fell after mostly trading in tight-range session, as final-hour selling pressure in key front-line shares led the benchmark Nifty to dip 101.85 points to end below the key 7,400 level.
The market traded in a tight range during much of the session on caution ahead of crucial GDP data.
The key indices saw a sharp selling pressure during late session on depreciating rupee as well as lower European opening amid sliding crude led it to end deep red.
Barring PSU Banks and Realty, rest all other counters witnessed selling led by FMCG, IT, Pharma, Banks, Energy, Auto and Financials, while shares of midcap and smallcap companies traded lacklustre.

Elsewhere, European shares were trading lower extending its last week's tumble.
The 50-share Nifty opened flat at 7,489.70 and moved between a high of 7,512.55 and a low of 7,363.20 before closing at 7,387.25, showing a fall of 101.85 points, or 1.36 per cent over its last close.

Major losers were Tata Motors 4.03 per cent, Indusind Bank 3.17 per cent, VEDL 2.98 per cent, Kotak Bank 2.73 per cent, ITC 2.69 per cent, Infy 2.03 per cent, HDFC 1.59 per cent and Reliance Infra 1.16 per cent.
Notable gainers included Bank of Baroda 2.91 per cent, SBIN 2.35 per cent, Axis Bank 2.25 per cent, Bosch Ltd 1.90 per cent and Bharti Artl 1.24 per cent.

Turnover in cash segment slumped to Rs 13,840.26 crore from Rs 17,835.72 crore last Friday. A total of 8,081.28 lakh shares changed hands in 64,20,946 trades.
The market capitalisation of NSE stood at Rs 90,40,507 crore.