Nifty slips below 8,700-level, down 12 points

In a see-saw trade, the benchmark Nifty today ended lower for third session in a row weighed down by selling in key Metal, Pharma, Banks and IT counters in the backdrop of looming worries over sooner than-expected US interest rate hike.
The momentum was broadly lacklustre amid positive opening supported by narrowing down of current account deficit (CAD) data, later bouts of value buying also took index to an high of 8,755.60, though as caution rode the sentiment over next week Fed meet as well as key domestic economic data to be released tomorrow, leading to tail-end selling pressure.
Selling in counters was led by Metals 1.69 per cent, Pharma 0.92 per cent, PSU Banks 0.69 per cent and Energy 0.41 per cents, while both midcap and smallcap indices lost nearly 0.46 per cent.

The 50-share Nifty resumed higher at 8,728.75 and traded between a high of 8,755.60 and low of 8,682.35 before closing at 8,699.95, showing a loss of 12.10 points, or 0.14 per cent, over its previous close.
Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth a net Rs 748.13 crore yesterday, as per provisional data of stock exchanges.
Elsewhere, most of the Asian stocks traded bearish.

Major losers from the Nifty pack include Hindalco 5.58 per cent, Cairn 3.20 per cent, SSLT 2.48 per cent, Tata Steel 1.90 per cent, BPCL 1.75 per cent, TCS 1.37 per cent and Tata Motors 1.66 per cent.

Notable gainers were Bharti Airtel 5.87 per cent, TechM 2.88 per cent, M&M 2.61 per cent, NTPC 2.53 per cent and Kotak Bank 2.08 per cent.
Turnover in the cash segment fell to Rs 18,477.38 crore compared to Rs 19,047.27 crore yesterday. A total of 8,903.36 lakh shares changed hands in 74,83,787 trades. The market capitalisation at NSE stood at Rs 101,22,635 crore.