Nifty extends losses but holds on to 6,300 level

Shares dropped on the National Stock Exchange (NSE) for a second straight day today on profit taking amidst investor caution and weak global cues as market waited for the industrial production and inflation data.
The benchmark CNX Nifty, which scaled record high on Monday, continued to retreat and lost another 25 points but managed to end above the 6,300 mark thanks to some buying towards the tail-end.
Investor sentiment was impacted by key macro concerns over slowdown in export which decelerated to 5.9 per cent last month. Overall mood was cautious ahead of industrial output and inflation data to be released tomorrow.

Selling was concentrated in bank, auto, PSU, energy and infra stocks, while FMCG scrips gained.
The 50-scrip benchmark hovered between a high of 6,326.60 points and a low of 6,280.25 points before ending at 6,307.90 points, showing a loss of 24.95 points, or 0.39 per cent, over the last close.
Opening lower on weak Asian cues, the key index extended losses on selling pressure amid choppiness. It trimmed some losses on positive European cues.
The key losers were Tata Motors, Bank of Baroda, SBIN, BPCL, Tata Power, ONGC, DLF, GAIL and Bharti Airtel, while notable gainers were NTPC, HDFC, HCL Tech, Axis Bank, Coal India, ITC, ICICI Bank, Ranbaxy, HDFC Bank and Cairn.

Turnover in the cash segment dropped to Rs 10,059.65 crore from Rs 13,991.15 crore previously. A total of 5,520.35 lakh shares changed hands in 51,35,262 trades, while market capitalisation stood at Rs 67,49,864 crore.