Nifty ends below 6,300-mark on selling pressure

The bourses encountered selling pressure on penultimate day of the year as profit-booking in banking, IT, pharma and auto counters led the key index close below the important 6,300-mark level to loss 23 points at the National Stock Exchange (NSE).
Investors went wary as RBI Governor Raghuram Rajan in half yearly financial stability report stated that inflationary pressure is restricting the country's growth as well as hint over political instability after next year general
election would lead to hurting economy further.
IT stocks was biggest loser in today's trade draining 1.66 per cent after its recent rally, the interest-rate related shares also bore the brunt.

The 50-share Nifty traded between a high of 6,344.05 and a low of 6,273.15, before closing at 6,291.10, showing a loss of 22.70 points, or 0.36 per cent.
After a firm opening, the market witnessed volatility though the index reached highest level in three weeks briefly, and reversed the gains in morning trade on investors' caution, and continued to trade choppy during afternoon trade to end negative.
The major losers were DLF, ACC, Ranbaxy, JP Associate, Ultracemco, M&M, Bajaj Auto, Bank of Baroda, Infy and PNB. While BHEL, Coal India and HDFC closed with gains.
Turnover in the cash segment declined to Rs 8,659.67 crore from Rs 8,749.23 crore last Friday. A total of 5,301.34 lakh shares changed hands in 46,29,814 trades, while market capitalisation stood at Rs 68,61,286 crore.