Nifty snaps 5-day rally on profit booking, down 18 points

Equity benchmark Nifty snapped its 5-day rally, slipped by 18 points following fresh selling in FMCG, IT, Pharma, Energy and Infra stocks which dragged down Nifty. While, PSU Banks, Auto, Metals and Realty sectors saw mild profit-booking.
Considering positive global equity market, Nifty opened on a positive note up 31 points at 8210 levels and registered day high at 8214 levels. Since opening trades and high of the day it observed some pessimism prevailing after huge gain on Nifty. On back of mild profitbooking in selective index specific stocks, Nifty posted day low of 8134 thus by losing nearly 80 points from the high.

In overseas stock markets, Car makers led losses for European stocks after German car maker Volkswagen reported a higher-than-expected decline in net profit for Q1 March 2016. While, in Asia, Chinese stocks edged higher on speculation that MSCI Inc., the global index provider, will soon add mainland-traded Chinese stocks, so-called A-shares, in its Emerging Markets Index.
The 50-share Nifty resumed higher at 8,209.85 and moved in a range of 8,213.60 nd 8,134.30 before closing at 8,160.10, showing a modest fall of 18.40 points or 0.22 pct.
On the sectoral front, Pharma fell by 1.61 pct, FMCG by (1.37 pct), IT (1.31 pct), Energy (0.92 pct) and Infra (0.89 pct). However, PSU Bank rose by 2.90 pct, Auto 2.63 pct, Metal 1.19 pct, Realty 0.83 pct, Bank 0.57 & Finance 0.30 pct.

Among the Index lossers were, Sunpharma 6.08 pct, Infratel 2.98 pct, TCS 2.54 pct, GAIL 2.47 pct, BPCL 1.90 pct, Tata Power 1.86 pct, Eicher Motors 1.67 pct and ONGC 1.38.

While, TataMtdvr rose by 11.74 pct, Tata Motors 9.12 pct, Aurobindo Pharma 4.09 pct, Tata Steel 3.72 pct, SBIN 3.24 pct, Bk Of Baroda 3.18 pct and Hindalco 2.09 pct.
970 shares declines, 590 rose, while 72 ruled steady.
Turnover in cash segment rose to Rs 35,855.79 crs from Rs 17,002.66 crs yesterday. A total of 14,509.31 lakh shares changed hands in 1,04,64,729 trades.
The market capitalisation of NSE stood at Rs 97,40,551 crores.