Nifty slips 26 points in volatile session

The benchmark Nifty slipped 25.60 points to finish at 7,536.80 in a volatile session weighed down by selling in key index majors of banks including PSU banks and financial, metal, auto, infra and energy counters.
The broader of midcap and smallcap company shares also saw intense selling pressure.
The market which was languishing on negative Asian cues recovered during afternoon on heavy buying in IT sectors after better than expected third quarter number in IT major infosys with 6.6 per cent rise and annual revenue growth forecast, was supported by FMCG and Pharma segments somewhat thwarting the index larger fall.

Lower European opening and sliding rupee which slumped over 67-level against USD, its weakest since September 4,2013 also weighed the sentiment.
Meanwhile, deflationary trend eased in December with WPI inflation rose (-)0.73 per cent as food articles, mainly vegetables, turned costlier.
The 50-share Nifty resumed lower at 7,467.40 and swung between 7,604.80 and 7,443.80 before closing at 7,536.80, down by 25.60 points, or 0.34 per cent.

Elsewhere, Asian stocks hovered in a negative zone, with investor sentiment hit adversely due to a selloff in US stocks overnight.
European shares were trading lower in their afternoon trade after oil prices volatility drive Wall Street to its biggest drop in three months overnight.

Major loser were Axis Bank (3.96 per cent), Tata Steel (3.18 per cent), BHEL (3.07 per cent), Tata Motors (2.83 per cent), Hindalco (2.61 per cent), SBI (2.41 per cent), LT (1.91 per cent) and Reliance (1.41 per cent).
While the gainers were Infy (4.58 per cent), Lupin (3.08 per cent), Asian Paint (2.40 per cent), TechM (1.89 per cent) and BPCL (1.51 per cent).
Turnover in cash segment fell to Rs 18,544.38 crore from Rs 22,575.92 crore yesterday. A total of 10,199.69 lakh shares changed hands in 80,25,026 trades.
The market capitalisation of NSE stood at Rs 93,31,075 crore.