Nifty slips 28 pts; settles below 11,000

Benchmark Nifty slipped 27 points to close at 10,980.45 today after the opposition tabled a no-confidence motion against the government, which dented investor sentiment.

Selling was led by Metal, Realty, Auto, FMCG, PSU Bank, Private Bank, Banking, Pharma and Finance Services sectors.

The key indices hit all-time highs in morning itself amid sustained buying by domestic funds, taking cues from higher Asian markets following overnight gains in the US.

However, volatility struck after the monsoon session of parliament began with the opposition tabling a no-confidence motion against Prime Minister Narendra Modi's government.

The broader mid-cap and small-cap shares also saw substantial sell-off.

The broader NSE Nifty ended below the key 11,000-mark at 10,980.45, showing a loss 27.60 points, or 0.25 per cent. It shuttled between 11,076.20 and 10,956.30.

It saw an intra-day movement of about 119.90 points.

Sector-wise, Metal fell by 3.15 per cent, followed by Realty 2.40 per cent, Auto 1.43 per cent, FMCG 0.96 per cent, PSU Bank 0.84 per cent, Private Bank 0.60 per cent, Banking 0.47 per cent, Pharma 0.45 per cent, Finance Service 0.05 per cent and Media 0.02 per cent.

Energy rose by 0.31 per cent and IT by 0.09 per cent.

Major index losers were Tata Steel 5.28 per cent, Hindalco 3.23 per cent, Vedanta 3.05 per cent, UPL 2.48 per cent and Tata Motors 2.36 per cent.

Gainers included Indiabulls Housing Finance 4.08 per cent, ONGC 2.66 per cent, BPCL 2.47 per cent, HPCL 1.71 per cent and IOC 1.67 per cent.

A total of 1,299 scrips declined, 499 advanced, while 79 remained unchanged. Total securities that hit their price bands were 236.

Turnover in the cash segment rose to Rs 29,630.86 crore from Rs 28,288.38 crore yesterday.

A total of 15,358.23 lakh shares changed hands in 11,246,426 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,44,78,987 crore.