Nifty ends below 8,700-level on expiry day, dismal Rail Budget

The benchmark NSE Nifty fell 83.40 points to end below the key 8,700-level amid hectic profit-booking on expiry day of February derivative contracts and a dismal Rail Budget.
Investors felt let down by increase in freight rates as well as absence of market-friendly Rail Budget, leading to extreme caution ahead of Saturday's Union Budget.
Market momentum remained highly volatile as key heavyweights in FMCG, IT, banking, auto, pharma, metal, infra counters witnessed selling, followed by profit-booking.
The broader 50-share Nifty traded between a high of 8,786.05 and a low of 8,669.45 before ending at 8,683.85, showing a fall of 83.4 points, or 0.95 per cent, over its previous close.

Meanwhile, global rating agency Standard & Poor's sharply revised country's GDP forecast upwards by 7.9 per cent next fiscal.
Elsewhere, foreign portfolio investors (FPIs) bought shares worth a net Rs 516.06 crore yesterday, as per provisional data released by the stock exchange.

Most Asian markets ended higher after upbeat US housing data.
Major losers from the Nifty pack included BHEL, Bank of Baroda, Sun Pharma, Asian Paint, IDFC, Infosys, Maruti, Cipla, IndusInd Bank, Ultratech Cement and SBIN.
Turnover in the cash segment jumped to Rs 23,260.19 crore as compared to Rs 16,547.33 crore yesterday. A total of 10,054.58 lakh shares changed hands in 83,27,954 trades. The market capitalisation at NSE stood at Rs 100,102,246 crore.