Nifty snaps 5-day winning streak, settles with small losses

NSE Nifty snapped its 5-day winning rally to close marginally down by 4.30 points today due to late profit booking in media, PSU banks, realty, FMCG, parma and metal counters despite higher global cues.

Caution crept in as investors were roiled by dismal macro data, as retail inflation hit a five-month high in June and stayed above the central banks target for the eighth straight month, raising chances of a rate hike.

The Consumer Price Index (CPI) inflation rose to a five-month high of 5 per cent in June, while the Index of Industrial Production (IIP) slowed to a seven-month low of 3.2 per cent in May.

Overseas, Asian stocks rose as China refrained from detailing retaliation plans against increasing the US tariff.

European stocks were trading higher in early deals, tracking overnight gains on Wall Street amid expectations of strong US earnings.

The broader NSE Nifty index managed to hold the key 11,000-level at 11,018.90, losing a marginal 4.30 points, or 0.04 per cent. It shuttled between a high of 11,071.35 and 10,999.75.

It saw an intra-day movement of about 71.60 points.

On the sectoral front, media fell by 3.56 per cent, PSU banks 2.05 per cent, realty 1.69 per cent, FMCG 1.01 per cent, pharma 0.87 per cent, metal 0.42 per cent, PVT banks 0.38 per cent, bank 0.34 per cent and auto 0.32 per cent.

However, energy rose by 0.87 per cent and IT 0.13 per cent.

Major index gainers were Titan, BPCL, Bajaj Finance, Infosys and Reliance.

Losers included Zeel, Infra Tel, UPL, ONGC and Axis Bank.

The market breadth, indicating its overall health, remained negative. A total of 459 scrips advanced and 1,344 declined, while 81 remained unchanged.

As many as 220 securities in total hit their price bands.

Turnover in the cash segment fell to Rs 29,592.72 crore from Rs 30,463.80 crore as on Thursday.

A total of 14,671.67 lakh shares changed hands in 10,370,598 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,46,31,611 crore.