Nifty retreats from 2-1/2 mth high; Auto, fmcg gain strong

The NSE benchmark Nifty retreated from its 2-1/2 month high and ended modestly lower by 8 points as investors turned cautious and booked profits after a two-day upmove and Greece uncertainty. After a strong start following generally upbeat Asian session, the key indices turned choppy and traded in a tight range in the absence of any definite cues. 

However, it turned bit volatile in late-afternoon session on the back of fresh selling as investors preferred to take out come gains after two-day sharp gains and maintained a cautious approach after the global rating agency Fitch lowered India's economic growth projections to 7.8 per cent for the fiscal from 8 per cent earlier. The 50-share barometer swung between a high of 8,479.25 and a low of 8,433.20 before ending at 8,444.90, registering a modest fall of 8.15, or 0.10 per cent. It had gained 134 points in previous two sessions.

Elsewhere in region, barring China most equities maintained its strong momentum despite ongoing Greece debt standoff. Among the sectoral indices, healthcare, metal, realty and technology witnessed selling pressure, while media, fcmg, energy, auto and infra attracted good buying interest.