Nifty stays weak for fourth day amid lower European cues

The benchmark Nifty washed out all its intra-day gains during the fag end of trade today, falling a marginal 34 points to 9,105 amid lower European cues and lingering geo-political worries.
Frenzied short-covering as well as optimism ahead of quarterly results in some key index heavyweights led Nifty to reclaim the crucial 9,200-level. But it could not sustain the momentum against the backdrop of lower European cues.
The NSE 50-share index opened higher at 9,163 and hovered between 9,217.90 and 9,095.45 before closing at 9,105.15, a loss of 34.15 points, or 0.37 per cent. It saw an intra-day movement of 122.45 points.

Meanwhile, the Indian Meteorological Department (IMD) predicted normal monsoon this year with fair distribution of rainfall across major parts of the country.
Overseas, Asia ended mixed amid easing geo-political concerns. European markets were trading lower in their afternoon trade.
On the sectoral front, realty came down 3.39 per cent and metal 1.76 per cent.

However, mild buying was seen at banking counters.
The broader midcap and smallcap also logged selling.
Major index losers were Tata Steel (2.70 per cent), Ambuja Cement (2.47 per cent), Coal India (2.29 per cent), Eicher Motors (2.27 per cent) and Infratel (2.16 per cent).
Gainers included AuroPharma (1.75 per cent), IOC (1.51 per cent), NTPC (1.51 per cent) and Hindalco (1.30 per cent).

A total of 1,121 shares declined and 580 advanced while 74 ruled steady.
Total securities that hit their price bands were 133.
Turnover in the cash segment jumped to Rs 28,056.56 crore, from Rs 22,544.32 crore yesterday.
A total of 16,608.60 lakh shares changed hands in 9,843,910 trades. The market capitalisation of listed of firms stood at Rs 1,20,41,387 crore.