Nifty slips 34 pts, ends at 9,203

Benchmark Nifty slipped by 34 points today but managed to hold on to the 9,200-level due to a late surge in pharma stocks.
Investors preferred to book profits in PSU Bank, Media and Energy counters ahead of the earnings season.
Overseas, European stocks gained after reports said the German economy, Europe's largest, picked up speed at the beginning of this year, lifted by a robust industrial sector and rising employment that is supporting private consumption.
Asian stocks were mixed as geopolitical developments compelled investors to move money out of risky assets.
The NSE 50-share Nifty opened higher at 9,242.50 and hovered in a range of 9,246.40 and 9,161.80 before ending at 9,203.45, registering a loss of 33.55 points, or 0.36 per cent. It witnessed an intra-day movement of 84.60 points.

On the sectoral front, PSU Bank fell by 1.31 per cent, Media 1.27 per cent, Energy 0.82 per cent, IT 0.73 per cent, Metal 0.67 per cent, Infra 0.57 per cent, Auto 0.53 per cent and Finance Service 0.44 per cent. However, Pharma rose by 0.87 per cent.

Major index losers were Tata Steel (2.19 per cent), Adani Ports (1.86 per cent), Wipro (1.84 per cent), Zee (1.80 per cent) and Axis Bank (1.76 per cent).
Gainers included Bharti InfraTel (3.23 per cent), Bosch Ltd (2.70 per cent), Eicher Motors (2.09 per cent), Sun Pharma (1.92 per cent) and Yes Bank (1.03 per cent).

A total of 1,096 shares declined, 591 advanced, while 49 ruled steady.
Total securities that hit their price bands were 123.
Turnover in the cash segment fell to Rs 25,903.26 crore from Rs 26,594.05 crore yesterday.
A total of 14,764.42 lakh shares changed hands in 9,240,945 trades. The market capitalisation of listed of firms stood at Rs 12,164,693.64 crore.