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Nifty cracks below 8,800-level, slumps 109 points

The NSE Nifty extended the fall for second-day tumbling 108.50 points to crack below the key 8,800 level at 8,723.05 on across the counter selling triggered by weak global cues.



Mumbai: The NSE Nifty extended the fall for second-day tumbling 108.50 points to crack below the key 8,800 level at 8,723.05 on across the counter selling triggered by weak global cues.

The index momentum were broadley negative from the start as the sentiments were totally cautious weighed by weak global markets due to first US prsidential debate and meeting of OPEC members on oil production cut scheduled this week, while profit-booking marred further losses ahead of F&O expiry this week.

The NSE Nifty opened lower at 8,807.90 and moved between a range of 8,809.55 and 8,715.10 before concluding at 8,723.05, showing a loss of 108.50 points or 1.23 percent.

Barring media counters which witnessed slight buying, selling pressure seen accross the sector led by Realty (2.37 percent), Auto (1.72 percent), Infra (1.68 percent), Pvt Bank (1.67 percent), Bank (1.56 percent), FMCG (1.52 percent), Financials (1.42 percent), PSU Bank (1.03 percent) and Pharma (0.76 percent).

Elsewhere, Asian stocks dropped after losses on Wall Street on last Friday, as investors' attention turned from central banks to American politics ahead of the first US presidential debate.

European stocks were also trading lower as investors trade cautiously ahead of an Organization of the Petroleum Exporting Countries (OPEC) producers meeting in Algeria later this week.

Major losers were ONGC 4.22 percent followed by Tata Motors 3.21 percent, ICICI Bank 3.21 percent, NTPC 3.03 percent, IDEA 2.67 percent, L&T 2.09 percent, Axis Bank 1.80 percent and HDFC Bank 1.26 percent.

A total of 524 scrips advanced, 1,100 declined, while 58 remained unchanged. Total securities that hit their price bands were 92.

Turnover in cash segment plunged to Rs 19,961.44 crs from Rs 24,624.76 crore last Friday.

A total of 9,125.65 lakh shares changed hands in 74,57,748 trades. The market capitalisation of NSE stood at Rs 10,938,406 crore.

From Zee News

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