Nifty encounters profit-booking, down 31 pts

Investors raked profits on the account of brisk selling in banking, energy, infra and PSU counters amid poll outcome even though buying in FMCG and IT helped in cushioning the sentiment, with CNX-Nifty closing at 6332.85, down by 31 points from its previous close.
The market saw power-major NTPC tumbling by 11.26 per cent on proposed electricity tariff regulations by Regulatory Commission (CERC).
Investors sentiment also bothered by Global credit rating agency Fitch today stated that the ruling Congress defeat state assembly election could lead high fiscal deficit target as it would be difficult to curb expenditure and in fact affect near-term fiscal-goals due to political pressure.

The 50-scrip benchmark traded between an high of 6,362.25 points and a low of 6,307.55 points before closing at 6,332.85 points, showing a loss of 31.05 points, or 0.49 per cent, over the last close.
The market resumed lower amid weak Asian cues and extended losses during morning trade, though trimmed some of its losses.
Key-index continued its volatile momentum during afternoon trade, lower European cues led it close in negative terrain.

The losers were, NTPC, Larsen, PowerGrid, ICICI Bank, BHEL, IndusindBk, IDFC, DLF, Axis Bank and SBI.
However, gainer were TCS, HeroMotoCorp, SSLT, Lupin, Wipro, Hindunilvr, Kotak Bank, HCL Teck and Infosys.

Turnover in the cash segment gained to Rs 13,991.15 crore from Rs 13,245.50 crore previously. A total of 6,875.38 lakh shares changed hands in 66,66,170 trades, while market capitalisation stood at Rs 67,80,123 crore.