Nifty extends losses for second day, ends 18 pts down

The Nifty extended losses for the second consecutive day today, moving down by another 18 points to close at 7,597 on persistent selling mainly in pharma, media, IT and FMCG sectors ahead of the expiry of March contract on coming Thursday.
Market players also opted for caution centered on the US Fed Chair Janet Yellan's crucial address on US economy and monetary policy later in the day which would shed some light on interest rate hike.
The 50-share Nifty opened lower at 7,606.55 and hovered in a range of 7,652.90 and 7,582.25 before concluding at 7,597.00, showing a loss of 18.10 points or 0.24 per cent.

It has dropped by 119.50 points or 1.55 per cent in two days.
Major losers were Lupin 6.26 pct, Cipla 3.95 pct, Just Dial 3.33 pct, Dr Reddy's Lab 3.11 pct and Sun Pharma 1.84 pct.
However, Tata Motors rose by 2.52 pct, Maurti 2.50 pct, Idea 1.90 pct, Tata Steel 1.57 pct and Reliance Ind 1.55 pct.

942 shares declined, 623 firmed up while 71 ruled steady.
Turnover in cash segment rose to Rs 18,061.45 crores from 17,410.16 crore yesterday.
A total of 8,771.56 lakh shares changed hands in 68,61,862 trades. The market capitalisation of NSE stood at Rs 91,17,044 crore.