Nifty extends loss, down by 34 points

The benchmark Nifty extended fall for the second consecutive session, witnessing volatility during fag end of the trading session to fall further by 34 points on selling mainly in Pharma, Realty and PSU Banks despite positive global cues.
On the global front, European stocks rallied despite hawkish comments from a US Federal Reserve official and following April Fed minutes that raised the probability of a rate hike in June. Asian markets also closed higher with Shanghai, Nikkei and Hang Seng rising over half a per cent.
The 50-share Nifty resumed higher at 7,792.20 and moved in a range of 7,812.40 and 7,735.75 its lowest level since 6 May before closing at 7,749.70, showing a loss of 33.70 points or 0.43 per cent.

1,107 shares declined, 455 rose, while 65 ruled steady.
On the sectoral front, Pharma dropped by (1.56 pct), Realty (1.35 pct), PSU Bank (0.94 pct) and IT (0.53 pct).
Among the Index losers, Lupin, was the leading contributor to Nifty's fall, crashing more than 9 pct despite a strong quarterly earnings report, followed by ICICI Bank 2.42 pct, BPCL 2.41 pct, Ambuja Cement 2.25 pct and Infratel 1.81 pct.

However, Adani Ports rose by 3.73 pct, ITC 1.69 pct, Idea 1.49, Tata Power 1.46 pct and ONGC 1.45 pct.
Turnover in cash segment rose to Rs 14,398.94 crs from Rs 16,693.53 crs on Thursday. A total of 7,310.98 lakh shares changed hands in 68,04,040 trades.

The market capitalisation of NSE stood at Rs 93,90,778 crore.