Nifty extends fall, ends below 11,500

NSE benchmark Nifty slipped 43 pts to end at 11,476.95 Wednesday in a highly volatile trading session, dragged by realty, media, FMCG, infra and energy stocks amid negative global cues and sharp rupee depreciation.

The rupee hit an intra-day low of 71.96 against the dollar as simmering trade tensions continued to hurt emerging market currencies amid rising crude oil prices.

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Data showing India’s services PMI had risen at a slower pace in August added to the gloom.

However, a rebound in metal and pharma stocks in the second half of the session limited losses.

Overseas, European stocks were trading lower as renewed concerns over international trade conflicts soured risk appetite.

Asian stocks ended lower amid continued pressure in many emerging markets.

The Nifty 50 index fell 43.35 points or 0.38 percent to end at 11,476.95, its lowest closing level since August 17, 2018.

It saw an intra-day movement of about 148.80 points.

Also Read | Rupee pares all gains, drops to fresh record low of 71.79 against USD

On the sectoral front, Realty dipped by 1.12 per cent, followed by Media 1.05 per cent, FMCG 0.87 per cent, Energy 0.65 per cent, Infra 0.62 per cent, Finance Service 0.54 per cent, PSU Bank 0.22 per cent, Bank 0.20 per cent, Private Bank 0.20 and IT 0.05 per cent.

Metal, Pharma and Auto indices rose by up to 1.05 per cent.

Major index gainers were Yes Bank, Vedanta, Tata Motors, Wipro, Hindalco, Adani Ports, Sun Pharma and Dr Reddy’s.

Losers included Bharti InfraTel, Zee, HUL, Titan, Bharti Airtel, Kotak Bank, Bajaj Finance, Lupin and Reliance.

The market breadth, indicating its overall health, remained in favour of losers. On the NSE, 601 stocks advanced, 1,228 declined and 75 remained unchanged.

Total securities that hit their price bands were 214.

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Turnover in the cash segment fell to Rs 37,075.89 crore from Rs 35,796.63 crore as on Tuesday.

A total of 16,742.16 lakh shares changed hands in 1,29,74,313 trades.

The market capitalisation of listed firms on the NSE stood at Rs 1,53,34,292.61 crore.