Nifty ends at 3-month low at 8,520.40, down 63 pts

The NSE Nifty dropped by 63 points to close at 3-month low at 8,520.40 due to fresh selling pressure in view of tepid quarterly earnings season amid weakness across global equity markets.
Shares of media, auto, metal, realty and pharma sectors were the major losers of the day.
Nifty of Media index fell by 3.11 pct followed by auto 2.10 pct, metal 1.23 pct, realty 1.02 pct and pharma 0.88 pct.
The NSE 50-share nifty opened higher at 8,612.95 and hovered in a range of 8,615.40 and 8,506.15 before ending at 3-month low of 8,520.40, showing a loss of 63 pts or 0.73 per cent.

The nifty had last ended at 8,510.10 on July 21, 2016.
In overseas, Asian markets ended mixed as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

European stocks were trading lower in their afternoon trade as investors remained cautious ahead of earnings, key data and a European Central Bank (ECB) meeting later this week.
A total of 973 declined, 675 advanced while 79 closed unchanged. Total securities that hit their price bands were 105. Major losers were Zeel 4.89 pct, IDEA 3.28 pct, M&M 3.24 pct, Eicher Motor 2.96 and Bosch Ltd 2.86 pct.

While, Icici Bank rose by 7.03 pct, NTPC 1.72 pct, HUL 0.83 pct, ONGC 0.51 pct and SBI 0.44 pct.
Turnover in cash segment rose to Rs 20,841.39 crores from Rs 20,518.22 crore on last Friday.
A total of 10,790.82 lakh shares changed hands in 8,412,017 trades. The market capitalisation of NSE stood at Rs 10,944,039 crore.