Nifty edges lower ahead of options expiry, down 11 pts

Bourses took a breather after a spectacular overnight rally on the back of profit-taking amid investors caution ahead of the expiry as the benchmark Nifty fell by 11 points on the National Stock Exchange (NSE) today.
Financials, energy, fmcg and metal related counters mainly led the downtrend.
However, auto stocks were in keen demand after government extended excise duty concessions till December. Technology and healthcare too attracted good buying interest.
Market had rallied more than a percent in the previous session.
Broader market sentiment remained uneasy and volatile against the backdrop of tomorrow's futures and options June contract expiry.
Negative leads from Wall Street following overnight sharp sell-off in stocks as well as sluggish European macro data amid concerns over worsening geopolitical tensions in Iraq also underpinned losses in Asian equities.

The 50-share Nifty fluctuated between a high of 7,589.25 and low of 7,557.05 before finishing at 7,569.25, showing a modest loss of 10.95 points, or 0.14 per cent, over last close.

The notable index losers were ITC, IDFC, ICICI Bank, ONGC, DLF, L&T, Bharti Airtel, Ambuja Cement, Reliance and Sesa Sterlite.
Among notable gainers were Bajaj Auto, Maruti, Lupin, Gail, Hindunilver, Heromotoco, M&M, NTPC, Coal India, Asian Paints.
Turnover in the cash segment dropped to Rs 15,805.74 crore from Rs 17,564.33 crore yesterday. A total of 9,831.36 lakh shares changed hands in 72,91,249 trades, while the market capitalisation stood at Rs 87,60,024 crore.