Nifty snaps 3-day winning spree, ends 25 pts lower

The NSE 50-share snapped its 3-day winning spree, slipping by 25 points to close at 8,743.95 on selling pressure mainly in private banks, financial services, banking and IT sectors amidst lower global cues.
The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector companies on a monthly basis, stood at 52 in September, down from August's 43-month high of 54.7, pointing to a slower and moderate rate of expansion.
Digesh Shah, Research Analyst of Veracity Financial Services said," Our benchmark index NIFTY opened on a positive note with a gain of 37 points at 8,806 levels with open -high indicating no further upside as far as NIFTY trades below 8806 mark. At the end of the session, NIFTY ended with a loss of 25.20 points (or 0.29%) at 8,743.95.

The Nifty had gained by 177.90 points or 2.07 per cent in previous three trading days.
Other indices like Nifty PVT Bank fell by 0.98 pct, Nifty Bank 0.69 pct, Nifty IT by 0.59 pct and Nifty Financial services 0.54 pct.
However, Nifty Realty rose by 1.84 pct.

Major losers were ONGC 2.52 pct, Axis Bank 1.99 pct, Idea 1.54 pct, Bajaj Auto 1.25 pct and Hero Moto 1.22 pct.
However, Tata Motors rose by 2.97 pct, Ultrachem 2.02 pct, BPCL 1.95 pct, Hindalco 1.94 pct Infratel 1.91 pct.
A total of 963 scrips advanced, 668 declined, while 67 remained unchanged. Total securities that hit their price bands were 116.

Turnover in cash segment fell to Rs 21,251.86 crs from Rs 22,142.98 crore yesterday.
A total of 11,655.88 lakh shares changed hands in 8,600,741 trades. The market capitalisation of NSE stood at Rs 11,158,019 crore.