Nifty slips below 8,000-mark on fresh selling; GDP data eyed

After a two-day rally, the NSE benchmark Nifty retreated by over 30 points to end below the psychologically significant 8,000 barrier on fresh bout of profit-taking amid lingering uncertainty about the Fed policy outlook.
Sentiment turned bearish once again, despite last week's pullback following fresh volatility in Chinese equities and also aggressive comments by US Federal Reserve Vice Chairman Stanley Fischer that the Fed had not ruled out an interest rate rise in September.
Moreover, continued weakness in the rupee and release of the first-quarter GDP data in the midst of uncertainty surrounding the progress of monsoon also kept traders wary.

Trading in narrow-range for most part of the day, key indices turned highly volatile towards the fag-end session as investors sought to lock in gains made during the relief rally last week.
Meanwhile, other Asian equities ended mixed amid continuing concerns about the health of China's economy and also sluggish Japanese industrial output data.
The broader 50-share index opened modestly higher at 8,009.25 against weekend close of 8001.95 and fluctuated between a high of 8,043.60 and a low of 7,947.95 before ending at 7,971.30, showing a fall of 30.65 points, or 0.38 per cent.

Flagship Nifty had rallied over 210 points in the last two sessions amidst extremely high volatility, but wrapped up the week falling by 3.59 per cent.

On the sectoral front, CNX Realty fell the most, plunging 1.41 per cent, followed by Infra (1.32 per cent), Energy (1.07 per cent), Auto (0.93 per cent), Bank Nifty (0.38 per cent) and FMCG (0.31 per cent).
However, Healthcare surged by 2.11 per cent, Metal (0.71 per cent) and Technology (0.15 per cent).
While, small-cap gained 0.42 per cent, mid-cap moved down by 0.57 per cent.
Major laggards included ICICI Bank, Infosys, Reliance, HDFC, L&T, Power Grid, ITC, Bharti Airtel, BHEL, ONGC, Bajaj Auto, Ultratech Cement, M&M, SBI, Maruti, Asian Paints, TCS, ZEE, Tata Steel and Hindalco.
Among the gainers were Lupin, Dr Reddy's, Sun Pharma, Cipla, HCL Tech, HUL, BPCL, Wipro, Coal India and Kotak Bank.

Turnover in the cash segment jumped to Rs 22,109.78 crore from Rs 18,880.16 crore last Friday.
A total of 8,144.91 lakh shares changed hands in 8,307,928 trades and the total market capitalisation of NSE stood at Rs 9,529,070 crore.