Nifty extends fall for second day, down 68 points

The market fell for the second consecutive session today following sustained selling pressure in most of the counters with the benchmark Nifty losing 68.25 points to end below the crucial 8,550-level.
The momentum were largely in tight range with sluggish undertone following weak Asian cues as well as below expected earning numbers.
Investors sentiments were further distressed by Parliament logjam over passage of key reform bills.
Caution was also displayed ahead earning results of key index heavyweights leading the bourses to witness heavy fag-end selling.
Barring FMCG, broad-based selling was witnessed in PSU banks and financials, realty, metal, auto, energy, infra and pharma counters, even as shares of midcap and small-cap companies followed suit.

The broader 50-share NSE Nifty opened flat at 8,588.15 and drifted to close at 8,521.55, losing 68.25 points, or 0.79 per cent.

Elsewhere, Asian stocks ended lower after a survey showed weak Chinese manufacturing activity, while European stocks were trading higher supported by modest recovery in Eurozone.
Stockwise, ICICI Bank fell 3.93 per cent ahead of Q1 results next week, while Wipro dropped 3.79 per cent as its June quarter earnings failed to enthuse investors, followed by Lupin (3.25 per cent), Tata Motors (2.77 per cent), SBIN (2.52 per cent), Reliance (1.94 per cent) and Coal India (1.26 per cent).

Notable gainers were Tech Mahindra (2.20 per cent), Bank of Baroda (1.96 per cent), Sun Pharma (0.89 per cent) and HeroMotoCorp (0.84 per cent).
Turnover in the cash segment declined to Rs 17,807.89 crore from Rs 18,170.59 crore yesterday.
A total of 8,110.21 lakh shares changed hands in 75,01,530 trades and the total market capitalisation of Nifty stood at Rs 1,01,06,667 crore.