Nifty slumps 229 pts to end below 8,300-mark

Nifty closed at a four-month low on fresh sell-off pressure in realty, auto, media, FMCG, financial service, PSU bank, infrastructure, private bank, auto, IT and metal sectors amid bearish global cues.
Investors also weighed the fallout of Prime Minister Narendra Modi's decision to demonetise high-value currency notes.
In overseas markets, most European and Asian shares edged lower. In US, the Dow Jones Industrial Average rallied to a record close yesterday, as investors continued to revise their strategies and reposition portfolios in response to Donald Trump's unexpected presidential election victory.
The 50-share Nifty opened lower at 8,456.65 and drifted further to 8,284.95 before ending at 8,296.30, a fall of 229.45 points, or 2.69 per cent, from its last close.

It saw an intra-day movement of about 175.65 points.
On the sectoral front, realty dropped by 5.07 per cent, followed by auto (4.61 per cent), media (4.30 per cent), FMCG (3.41 per cent), financial service (2.86 per cent), PSU Bank (2.68 per cent), infra (2.67 per cent), private bank (2.44 per cent), IT (2.28 per cent), Metal (2.07 per cent) and Energy (1.68 per cent).

Index laggards were M&M (6.14 per cent), Adani Ports (6.04 per cent), Eicher Motor (5.99 per cent), Yes Bank (5.84 per cent), Bharti Infratel (5.75 per cent), UltraTech Cement (5.53 per cent), Yes Bank (5.52 percent), Hero MotoCorp (5.20 percent) and ICICI Bank (4.99 per cent).

Sun Pharma was the lone gainer by 3.27 per cent.
A total of 1,470 scrips declined, 171 advanced while 41 remained unchanged. Total securities that hit their price bands were 98.
Turnover in the cash segment fell to Rs 26,089.22 crore, from Rs 27,197.28 crore as on Thursday.
A total of 11,622.11 lakh shares changed hands in 97,16,464 trades.
The market capitalisation of NSE stood at Rs 1,05,80,104.77 crore.