Nifty falls 33 points on selling pressure

Extending the decline for a fourth straight session the benchmark Nifty fell by 33 points on selling pressure led by banking and financials stocks.
The market largely saw range-bound momentum swayed over by intermittent selling pressure as investor sentiment let-down by yesterday's RBIs policy review meet keeping the repo-rate unchanged at 7.75 per cent.
There was no respite for banking and financials stocks being battered followed by Auto, Infra and FMCG counters.
However, bouts of value-buying witnessed in Metal, Energy and Pharma counters.
Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 264.35 crore yesterday as per the provisional data from the stock exchanges.

Elsewhere, most of the Asian markets traded higher.

The Broader 50-share index traded between a high of 8,792.85 and a low of 8,704.40 before ending at 8,723.70, down 32.85 points, or 0.38 per cent over its previous close.
Major losers were Axis Bank 4.77 per cent, BHEL 4.07 per cent, SBIN 2.41 per cent, TechM 2.29 per cent, Zeel 2.12 per cent, L&T 1.98 per cent, Tata Motors 1.97 per cent, and TCS 1.72 per cent.
However, Notable gainer were Hindalco rose by 4.06 per cent, Cairn by 3.46 per cent, Tata Power 3.15 per cent, SSLT 2.80 per cent, Coal India 2.64 per cent and ONGC 2.53 per cent.

Turnover in the cash segment dropped to Rs 20,223.98 crore from Rs 21,682.25 crore yesterday. A total of 10,767.74 lakh shares changed hands in 84,78,803 trades. The market capitalisation at NSE stood at Rs 10,068,949 crore.