Nifty snaps two-day winning streak, ends 68 points lower

NSE Nifty drifted 68 points to close below the key 8000-level in a volatile trade following selling activity seen mainly in media, bank, pharma, auto and realty stocks amid weakness in rupee and continued disruption in Rajya Sabha by opposition parties over demonetisation issue.
Besides, expiry of November derivative contracts also dented the market sentiment.
While, sustained buying were seen in IT, PSU Bank and Metal stocks.
In overseas stock markets, most European stocks edged higher after another record-setting session for US equities in the run-up to Thanksgiving holidays.
Most Asian stocks edged lower as upbeat economic data strengthened the prospect for higher US interest rate. Investors fear that higher interest rates in the US will spark capital outflows from the emerging equity markets.

The 50-share Nifty opened lower at 8,011.80, moved in a range of 8,024.85 and 7,952.55 before closing at 7,965.50, a loss of 67.80 points, or 0.84 per cent, from its last close.

It saw an intra-day movement of about 72.30 points.
On the sectoral front, Media fell by (2.54 per cent), Pvt Bank (2.09 per cent), Pharma (1.57 per cent, Bank Nifty (1.54 per cent), Auto (1.54 per cent), Realty (1.32 per cent) Fin. Service (1.28 per cent), Energy (1.23 per cent) and Infra (0.62 per cent).
However, IT rose by 1.11 per cent followed by PSU Bank 1.23 per cent and Metal 1.26 per cent.

The Index laggards were ZeeL (3.94 per cent), Tata Motors (3.93 per cent), TataMtrDvr (3.36 per cent), Kotak Bank (3.14 per cent), Eicher Motors (2.88 per cent), Auro Pharma (2.46 per cent) and Axis Bank 2.39 (per cent).
The gainers list included Hindalco (3.89 per cent), Bank Of Baroda (3.05 percent), ACC (1.72 percent), PowerGrid (1.87 percent), AmbujaCem (1.62 percent) and TechM (1.58 pct.
A total of 846 scrips advanced, 745 declined while 74 remained unchanged. Total securities that hit their price bands were 120.
Turnover in the cash segment rose to Rs 23,742.81 crs, from Rs 18,594.61 crore as on Wednesday.

A total of 10,978.91 lakh shares changed hands in 81,647,36 trades. The market capitalisation of NSE stood at Rs 1,02,15,840.87 crore.