Nifty falls 25 points on profit-taking; Tech stocks slump

The NSE-benchmark CNX Nifty shed 24 points and closed below the key psychological 6,200-mark on back of profit-taking driven by weak global sentiment.
Technology stocks spearheaded the sell-off after its recent sharp rally. Healthcare, energy, auto and capital good related stocks also witnessed intense selling.
Banking stocks, while managed to hold back in green following the government decision to pump an additional Rs 14,000 crore in public sector banks as part of its budgeted capital infusion plan for the current fiscal.
After a better start, the key equity indices suddenly turned volatile as investors resorted to heavy profit selling as the market had rallied consistently for the past three weeks fuelled by strong FII buying after Fed deferred tapering of its QE measures.

However, bourses reversed its falling trend and rebounded sharply in the final hour of trading following fresh buying in front-line heavyweights, lending some support to the falling market.
Other Asian and emerging market too came under heavy selling rattled by fresh concerns of bad bank debt and tight liquidity in world's second largest economy China and concerns about the pace of growth in the US economy amid tapering uncertainty.

The 50-share index fluctuated between a high of 6,217.95 and a low of 6,116.60 before ending at 6,178.35, registering a loss of 24.45, or 0.39 per cent, over its last close.

Amid the selling pressure, Wipro topped the index stock losers chart despite a robust 28 per cent rise in Q2 earnings. Other laggards included Cairn, DLF, NTPC, Sun Pharma, BHEL, Bajaj Auto, JP Associates, TCS and Ranbaxy.
Notable gainers were Bank of Baroda, GAIL, Cipla, ACC, SBIN, PNB, NMDC, L&T, ICICI Bank and Maruti.
Turnover in the cash segment rose to Rs 12,069.94 crore from Rs 11,267.67 crore yesterday. A total of 7,173.20 lakh shares changed hands in 62,25,941 trades, while market capitalisation stood at Rs 66,00,677 crore.