The NSE Nifty extended its losses for third day in a row, paring initial gains during last hour of trade on selling pressure to loss modestly by 16.65 points to close at 8,706.40 ahead of F&O derivative expiry.
Opening positive on higher Asian cues amid ongoing US presidential debate, the key indices witnessed bouts of value buying as well as tinge of short-covering, the uncertainty of OPEC meet over production cut in Algeria and weak European cues brewed volatility as the index succumbed to selling pressure to end negative.
Selling was seen in Banking segments including PSUs and private banks, FMCG, auto and metals followed by shares of midcap and smallcap companies. While IT, Pharma and Realty ended positive.
The NSE Nifty opened higher at 8,748.90 and hovered between 8,768.50 and 8,690.50 before ending at 8,706.40, showing a loss of 16.65 points or 0.19 per cent.
Elsewhere, Asian markets rose with sentiment buoyed by the US presidential debate where Hillary Clinton appeared to gain momentum over Donald Trump.
European stocks were lower as weak sentiment towards the banking sector saw Deutsche Bank shares hit a fresh record low.
Major losers were Hindalco 2.31 pct followed by Adani Ports 2.11 pct, L&T 2.00 pct, BPCL 1.88 pct, Infratel 1.87 pct, Axis Bank 1.17 pct and ITC 0.89 pct.
Notable gainers were AuroPharma 2.61 pct, TCS 1.46 pct, Ambuja Cement 1.29 pct, Lupin 1.18 pct and Wipro 1.02 pct.
A total of 928 scrips declined, 687 scrips advanced, while 78 remained unchanged. Total securities that hit their price bands were 102.
Turnover in cash segment eased to Rs 19,095.04 crs from Rs 19,961.44 crore yesterday.
A total of 9,614.45 lakh shares changed hands in 78,62,769 trades. The market capitalisation of NSE stood at Rs 10,930,567 crore.
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