Mumbai: Market turned negative after a firm opening following intense volatility as selling in key Pharma and Cement stocks led the benchmark Nifty to loss 31.40 points to end below 8,400-level.
The trading momentum continued to bridled by volatility though a positive start taken the indices to regain the key 8,504.95 for a while.
Caution prevailed ahead of key IT major Infosys Q4 result tomorrow as well as data of overnight FII selling distressed the investor sentiment, despite government clarification on Minimum Alternate Tax (MAT) dispute that countries having double taxation avoidance agreements (DTAAs) could exempt from capital gains Tax.
Most of the key indices witnessed selling pressure with Pharma, cements leading the way followed by realty, IT Auto, Energy, FMCG, Infra counters, while the broader MidCap rose SmallCap shares ended with losses.
However, Metal counters saw buying interest, some private banks also gained on good earning results.
The broader 50-share index traded between a high of 8,504.95 and a low of 8,361.85 before closing at 8,398.30, a loss of 31.40 points or 0.37 percent.
Stockwise, Sunpharma loss 2.67 percent, Acc 2.49 percent, TechM 2.32 percent, Ultracem 2.31 percent, Cairn 2.29 percent, Lupin 2.20 percent, SBIN 2.18 percent, HDIL 2.18 percent, Wipro 1.89 percent, L&T 1.89 percent.
Shares of Yes Bank surged nearly 7 percent on the back of 28 percent rise in its Q4 results and fund raising plans followed by Tata Steel by 5.15 percent, HCL Tech 2.02 percent, Zeel 1.87 percent and Indusind Bank 1.48 percent.
Meanwhile, Foreign portfolio investors sold stocks worth Rs 910.15 crore yesterday as per provisional data.
Meanwhile, Most of the Asian stocks ended higher.
A total of 6,643.99 lakh shares changed hands in 70,78,309 trades. The total market capitalisation of NSE stood at Rs 9,870,209 crore.
