Nifty declines 33 points, manages to hold 8500

Nifty benchmark wiped out all its gains in last hour of the trade falling below 8500 level intraday after rallying 2.6 per cent in the previous week.
Thus profit booking and selling pressure whipped off morning gains with Auto and IT stocks were bucking the trend, while PSU Banking, Metal, Realty, Media, Infra and Energy stocks put the pressure to end with loss 33 points.
In overseas markets,Asian markets mostly ended higher, shrugging off the failed military coup in Turkey.
European markets were mixed as investors digested a number of geopolitical events. France's CAC was down 0.25 per cent while Britain's FTSE gained 0.3 per cent.

The 50-share Nifty resumed higher at 8,564.05 and hovered in a range of 8,587.10 and 8,494.35 before closing at 8,508.70, showing a loss of 32.70 points, or 0.38 per cent from its last close.
In sectoral front, Nifty PSU dropped by 1.87 per cent, followed by Media (1.59 per cent), Realty (1.54 per cent), Infra (1.39 pc), Metal (1.25 pct) and Energy (1.13 per cent).

However, Auto and IT were the gainers by 0.23 and 0.17 per cent, respectively.
Index lossers included Idea (6.53 per cent), ONGC (5.06 per cent), BhartiAirtel (4.29 per cent), Bank Of Baroda (3.17 per cent) and Zeel (2.31 per cent).

While, Bajaj Auto rose by 2.22 per cent, followed by Infra Tel (1.23 per cent), TataMotors (1.08 per cent), Axis Bank (1.05 per cent) and Coal India (0.88 per cent).
A total of 1,020 stocks declined, 613 advanced, while 57 ruled stable. Total securities that hit their price bands today stood at 111.
Turnover in cash segment fell to Rs 17,425.41 crore from Rs 22,855.67 crore as on last Friday.
A total of 11,188.98 lakh shares changed hands in 70,65,268 trades. The market capitalisation of NSE stood at Rs 103,49,410.56 crore.