Nifty takes 129-point knock, its biggest fall in 2-1/2-months

Across-the-board sell-off fuelled by weakness in global bourses pulled the benchmark CNX Nifty down by a whopping 129 points -- its biggest fall in two-and-a -half months -- to end at 8,017.55 today, snapping days of gaining string at the National Stock Exchange (NSE).
Almost all sectoral indices closed in the red with realty, PSU bank, pharma, metal, infra, energy, auto and commodity segments suffering the most.
According to operators, the market was already in the overbought zone and needed correction.
Slowdown in eurozone private sector growth this month and data showing rise in unemployment in China, the world's second-largest economy, added to the gloom. Drop in foreign funds inflow in recent days, too, weighed on the market.

The broader 50-issue Nifty moved in a range of 8,159 .75 and 8,008.10 before settling at 8,017.55, down 128.75 points, or 1.58 per cent, over the last close.
Top five losers from the Nifty were DLF (6.72%), Cipla (4.67%), Tata Motors (4.12%), Hindalco (3.11%) and Tata Steel (3.05%). Among the few gainers were HCL Tech (1.48%), NTPC (0.33%), Wipro (0.21%) and Tech Mahindra (0.19%).
Asian stocks ended mixed, while European markets were sharply lower in late morning deals.
Turnover in the cash segment shot up to Rs 18,291.27 crore from Rs 14,631.38 crore yesterday. A total of 9,842.91 lakh shares changed hands in 79,81,738 trades, while market capitalisation stood at Rs 92,27,729 crore.