Nifty slips 73 points on selling pressure

Mumbai: The 50-share Nifty wiped out its previous day's gain on Friday as it slipped by 73 points, breaking psychological intra-day levels on back of selling pressure in banking, realty, auto, energy, infra and media sectors, even as metal and pharma stocks bucked the trend.

Overseas cues were negative.

European stocks edged lower as falling crude oil prices heightened fears about receding global growth. Chinese stocks led the decline in Asian markets.

US stocks edged higher yesterday, as beaten down energy stocks witnessed bargain hunting.

The 50-share Nifty resumed higher at 7,699.60 and moved in a range of 7,703.05 and 7,575.30 before ending at 7,610.45, down by 72.85 points, or 0.95 percent.

Realty was the biggest loser among the sectoral indices, down by 2.85 percent, followed by PSU Bank (2.29 percent), banks (2.21 percent), auto (1.75 percent), financial services (1.66 percent), infra (1.63 percent) and media (0.70 percent).

Major index losers were PNB by (4.69 percent), ICICI Bank (3.73 percent), Yes Bank (3.75 percent), Tata Motors (2.99 percent) and Bank of Baroda (2.57 percent).

However, Tata Steel rose by (3.39 percent), followed by HUL by (0.76 percent) Hindalco by (0.73 percent), Infosys (0.52 percent) and Vedanta (0.42 percent).

Of the total 1,597 securities, 445 advanced, 1,077 declined and 75 remained unchanged.

Turnover in cash segment rose to Rs 15,571.33 crores from Rs 14,934.05 crores yesterday.

A total of 8,793.56 lakh shares changed hands in 74,20,801 trades.

The market capitalisation of NSE stood at Rs 93,35,635 crores.