Nifty slips 19 pts in dull trade; tech stocks in limelight

Equities turned weak and ended with modest losses on the National Stock Exchange (NSE) today as investors booked profits amid lacklustre overseas cues.
FMCG, financial, energy, healthcare, infra, metal and auto counters witnessed intense selling pressure. However, strong buying in technology shares cushioned the fall.
Trading remained by and large range-bound and tepid as investors stayed sideways ahead of long week-end in view of trading holidays.
Uncertainty over the US monetary policy and subdued session in other Asian bourses in the midst of continued political unrest in Hong Kong dampened the mood. Market players also waited for the European Central Bank's latest policy update as well as crucial US jobs data.

The overall sentiment was weak a day after RBI kept the key policy rates unchanged in its bi-monthly monetary policy citing "stubbornly" high inflation that poses a serious threat to the growth momentum of Asia's third-largest economy.
On the economic data front, the eight core industries, which have a combined weight of about 38 per cent in the Index of Industrial Production (IIP), grew by 5.8 per cent in August as against 4.7 per cent in the same month last year.

The NSE benchmark Nifty hovered between 7,977.50 and 7,936.70 before concluding at 7,945.55, a modest fall of 19.25 points, or 0.24 per cent, over its last close.

ITC, Reliance, Maruti, ONGC, L&T, HDFC Bank, HDFC, SBI, HUL, Tata Steel, ICICI Bank, Cairn, Gail, Grasim, Dr Reddy's, Tata Power, Bajaj Auto and Bharti Airtel were among the key index losers.
However, IT stocks were in the limelight following good buying spree on the back of bullish US maco data and depreciation in rupee against the dollar. TCS, Infosys, Wipro and Tech Mahindra rallied 1-3 per cent.
Other notable gainers included M&M, HeroMoto, Axis Bank and Sun Pharma.
Turnover in the cash segment slumped to Rs 13,081.76 crore from Rs 17,034.12 crore yesterday. A total of 8,838.58 lakh shares changed hands in 64,27,266 trades, while market capitalisation stood at Rs 91,50,937 crore.