Nifty kicks off 2017 on muted note, ends marginally lower

After a spectacular rally last week, NSE Nifty kicked off the first trading day of the year on a negative note amid volatility, ending lower by 6 points.
It was weighed down by dismal manufacturing growth and weakness in PSU Bank, Bank and Finance Service counters, while Realty, Auto, Metal and Infra stocks supported the market.
Overseas, European stocks were trading higher today, driven largely by gains for banks across the board, though volumes were thin as many traders remained out for an extended New Year's break.
The NSE 50-share Nifty index opened higher at 8,210.10 and hovered in a range of 8,212.00 and 8,133.80 before ending at 8,179.50, showing a marginal fall of 6.30 points or 0.08 per cent.

It saw an intra-day movement of about 78.20 points.
On the sectoral front, PSU Bank fell by 2.00 per cent, Finance Service 1.39 per cent, Bank 1.14 per cent, and Private Bank 0.93 per cent.

However, Realty rose 4.38 per cent, Auto 2.03 per cent, Metal 1.99 per cent and Infra 0.91 per cent.
Major index gainers were Ambuja Cement (4.02 per cent), Tata Steel (3.96 per cent), M&M (3.81 per cent), UltraTech Cement (3.73 per cent), Eicher Motor (3.31 per cent) and Tata Motors DVR (3.11 per cent).
However, HDFC fell by 3.60 per cent, followed by Bank Of Baroda (2.93 per cent), SBI (2.64 per cent), IndusInd Bank (1.85 per cent) and ICICI Bank (1.31 per cent).

A total of 1,196 scrips advanced, 434 declined while 62 remained unchanged. Total securities that hit their price bands were 126.
Turnover in the cash segment fell to Rs 13,590.33 crore from Rs 19,268.58 crore on Friday.
A total of 7,873.70 lakh shares changed hands. The market capitalisation of NSE stood at Rs 10,495,471.63 crore.