Nifty slips from life-time high, fall below 7,800-mark

Profit-booking in key heavy-weights in most of the counters led the benchmark to slip after hitting initial life-time highs to close below 7,800-mark at the National Stock Exchange (NSE) here today.
Investors buckled to selling pressure amid caution after Nifty hitting opening record high of 7,840.95, as eight consecutive bull-run led the market to over-bought positions, and IT services major Wipro's lower than expected June quarter results along with monthly derivative expiry next week added to the index slide.
Barring Pharma and FMCG, key counters of Banking, including PSU banks, Energy, Auto, Metal, Infra, IT and realty along with shares from Mid-cap and Small-cap companies witnessed selling.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 161.55 crore yesterday, as per the provisional data from stock exchanges.
The Nifty traded between a high of 7,840.95 and a low of 7,748.60 points before concluding at 7,790.45, down 40.15 points, or 0.51 per cent, from its previous close.
Major losers were Tata Motors (4.98 per cent), Wipro (4.47 per cent), Cairn (4.28 per cent), DLF (4.28 per cent) and BHEL (3.91 per cent).
However, notable gainers were SunPharma (4.54 per cent), Lupin (3.24 per cent), Hindunilvr (3.24 per cent), HDFC (3.04 per cent) and Asian Paint (2.79 per cent).

Turnover in the cash segment jumped to Rs 18,437.30 crore from Rs 15,780.14 crore yesterday. A total of 9,530.54 lakh shares changed hands in 79,49,672 trades, while total market capitalisation stood at Rs 88,71,884 crore.