Nifty snaps 2-day gains, ends below 9,050

Snapped its two-day gains, Nifty dropped 63 points to end below 9,050 tracking correction in global peers after the US President Donald Trump failed to get Healthcare reform passed.
The news of SEBI order on Reliance Industries and the forecast of below normal monsoon were other reasons for selling pressure mainly in metal, energy, IT, pharma, auto and infra sectors.
Overseas, European shares edged lower as investors adopted a cautious tone on the back of US President Donald Trump's surprise failure to deliver swift health-care reform.
Asian stocks declined as investors continued to worry about the Trump's administration's inability to push through its policy initiatives.

The NSE 50-share Nifty index opened slightly lower at 9,093.45 and hovered between 9,094.85 and 9,024.65 before closing at 9,045.20, a loss of 62.80 points, or 0.69 per cent. It saw an intra-day movement of about 70.20 points.
Sector-wise, metal fell by 2.65 per cent as copper prices dropped in global commodity markets, followed by energy 1.55 per cent, IT 1.12 per cent, pharma 1.08 per cent, auto 0.71 per cent, pvt bank 0.53 per cent and infra 0.42 per cent.

However, PSU bank rose by 1.32 per cent and media 0.16 per cent.
Major index losers were Idea (3.63 per cent), Tata Steel (3.39 per cent), Hindalco (3.18 per cent), Reliance (2.77 per cent) and Auro Pharma (2.71 per cent).

Notable gainers were Bank of Baroda (1.92 per cent), SBIN (1.07 per cent), Indus Bank (0.90 per cent), Tata Power (0.87 percent), HDFC (0.83 per cent).
A total of 1,001 scrips declined, 683 advanced, while 64 remained unchanged. Total securities that hit their price bands were 122.
Turnover in the cash segment rose to Rs 26,834.84 crore from Rs 26,738.53 crore last Friday.
A total of 11,578.72 lakh shares changed hands in 7,617,143 trades. The market capitalisation of NSE stood at Rs 11,782,609.92 crore.