Market ends lower ahead of F&O expiry, Nifty down by 19 pts
The market snapped its four-day gaining spree on Wednesday`s trade on profit selling amid subdued global cues, as the benchmark CNX-Nifty ended lower by 18.50 points on the NSE.
Mumbai: The market snapped its four-day gaining spree on Wednesday`s trade on profit selling amid subdued global cues, as the benchmark CNX-Nifty ended lower by 18.50 points on the NSE.
Despite subdued Asian bourses, trading resumed on a slightly better note and trading bound most part of the day before drifting lower due to lack of large-scale funds, action and retail participation.
Cautious investors used every rise to book profits ahead of expiry of December series and a long weekend ahead mainly affected the trading sentiment, traders said.
Retail participants preferred to stay away from market fearing a sharp correction as the key indices faced stiff resistance to cross the psychological 5200-mark, they added.
The 50-share Nifty opened at 5,188.75 and traded in range between 5,197.05 and a low of 5,160.10 before closing at 5,169.45, a fall of 18.50 points, or 0.36 per cent, over its last close.
From the Nifty pack, Jindal Steel lost 2.20 per cent, Herohonda 2.18 per cent, Itc 2.15 per cent, Gail 1.64 per cent and Cairn 1.43 per cent. However, Rel Infra rose 1.64 per cent, Acc 1.37 per cent, Grasim 1.23 per cent, Cipla 1.09 per cent and Rpower 1.07 per cent.
Turnover in cash improved to Rs 11,670.08 crore from Rs 11,502.03 crore yesterday. A total of 6,697.31 lakh shares changed hands in 54,26,432 trades. The market capitalization was at Rs 56,69,689 crore.