Nifty snaps 2-day winning spree, ends lower by 198 pts

The CNX Nifty snapped its 2-day winning spree, tumbling 198 points to end at 8,126.95 on fresh selling pressure mainly in banking, metal and energy sectors.
The CNX Nifty resumed slightly higher at 8,326.15 and inched up further to 8,326.65 but declined immediately to a low of 8,115.30 before concluding at 8,126.95, disclosing a loss of 198.30 points, or 2.38 per cent.
It had gained 267.95 points, or 3.33 per cent, in last two days.
The Bank Nifty also dropped 3.14 per cent, followed by CNX Metal (3.05 per cent), CNX Energy (2.95 per cent) and CNX Auto (1.78 per cent).

Major Nifty losers were Bank of Baroda (6.66 per cent), Tata Steel (6.23 per cent), Cairn (5.67 per cent), VEDL (5.23 per cent) and BHEL (5.16 per cent).
However, Hero MotoCorp rose by 3.45 per cent and Dr Reddy's Lab 3.25 per cent.
Turnover in the cash segment rose to Rs 16,692.05 crore from Rs 16,383.34 crore yesterday.
A total of 7,238.74 lakh shares changed hands in 74,24,036 trades and the total market capitalisation of NSE stood at Rs 96,31,640 crore.