NSE Nifty shed 23 points to close below the 8,950-mark for the second consecutive session on Wednesday as investors stayed on the sidelines ahead of key poll results and US Federal Reserve policy meet next week.
Metal, realty, energy, infra, auto and IT sectors witnessed sustained selling pressure, while media, pharma and banks stocks were in demand.
Overseas, most European stock markets reversed earlier losses, while Asian equities witnessed a mixed trend.
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US stocks closed lower on Tuesday as investors mulled over the prospects of tighter monetary policy and the House Republicans’ legislation to repeal and replace Obamacare.
The NSE 50-share Nifty index opened higher at 8,950.70 and hovered between 8,957.05 and 8,891.95 before closing at 8,924.30, a loss of 22.60 points, or 0.25 percent. It saw an intra-day movement of about 65.10 points.
Sector-wise, Metal fell 1.92 per cent, followed by Realty (1.39 per cent), Energy (1.01 per cent), Infra (0.64 per cent), Auto (0.54 per cent), IT (0.55 per cent) and FMCG (0.12 per cent).
Media rose 0.62 per cent, Bank 0.24 per cent, PSU Bank 0.24 per cent, Finance Service 0.19 per cent and Private Bank 0.15 per cent.
Major index losers were Idea (2.21 per cent), Tata Steel (1.98 per cent), ONGC (1.76 per cent), Tech Mahindra (1.61 per cent) and M&M (1.26 per cent).
Notable gainers were Bosch Ltd (2.46 per cent), Yes Bank (1.80 per cent), Zee (1.54 per cent), Eicher Motors (1.02 per cent) and Kotak Bank (0.97 per cent).
A total of 1,132 scrips declined, 523 advanced, while 68 remained unchanged. Total securities that hit their price bands were 111.
Turnover in the cash segment rose to Rs 22,250.07 crore from Rs 19,729.33 crore on Tuesday.
A total of 10,144.70 lakh shares changed hands in 7,686,539 trades. The market capitalisation of NSE stood at Rs 11,549,040.34 crore.