Nifty ends below 8,800-level ahead of RBI-meet

The market declined for second consecutive session in a highly volatile trade as the CNX Nifty ended below 8,800-level today.
Investors caution prevailed as market already squeezed by lower earning results of key heavy weights, got further bridled by slippage in HSBC manufacturing growth (PMI) data to three-month low, amid RBIs key sixth bi-monthly monetary policy review tomorrow.
Profit-booking was witnessed in key FMCG, Metal, Energy and Pharma counters, but the fall was capped by buying in IT, Auto, Infra and Banks and Financials.
Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 771.55 crore last Friday as per the provisional data from the stock exchanges.

Elsewhere Asian stock ended mixed following data showing China's manufacturing sector remaining in a poor state.
The Broader 50-share index hovered between a high of 8,840.80 and a low of 8,751.10 before concluding at 8,797.40, down 11.50 points, or 0.13 per cent over its previous close.

Major lossers were Asian Paints 5.79 per cent, BhartiArtl 3.85 per cent, Dr Reddy 2.91 per cent, Bank of Baroda 2.74 per cent, Hindunilvr 2.63 per cent, ICICI Bank 2.45 per cent, Coal India 1.59 per cent and ITC 2.14 per cent.
However, HCL Tech surged by 5.54 per cent, Axis Bank 4.97 per cent, Hindalco 3.97 per cent, Wipro 3.06 per cent, and IDFC 2.44 per cent, L&T 2.03 per cent and Tata Motors 1.26 per cent.

Turnover in the cash segment dropped to Rs 21,334.94 crore from Rs 24,550.84 crore last Friday. A total of 10,094.72 lakh shares changed hands in 84,35,219 trades. The market capitalisation at NSE stood at Rs 1,01,18,388 crore.