It had lost 33 points in the previous session.The broad-based NSE Nifty, which hit a low of 8,552.40 intra-day, managed to cut down losses and ended lower by 71.45 points, or 0.83 per cent, at 8,561.30. "The Economic Survey has given a cautious outlook for 2017-18 GDP growth, considering the risk of demonetisation, subdued credit growth, rise in commodity prices and weaker external environment," said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services. "IT stocks were the laggards today due to the policy effect on US H1B visa norms. "The risk-averse behaviour was on display as participants took cues from global stocks that remained on the backfoot following Trump's controversial crackdown on immigration.GAIL, Adani Ports, Sun Pharma, Tata Motors , Coal India, Lupin, Axis Bank and NTPC were among those that weighed on the benchmark indices.Counters of oil and gas, PSU, healthcare, infrastructure and metal all turned weak, falling up to 1.64 per cent.Selling activity extended to the broader markets, with the BSE mid-cap retreating 1.10 per cent and the small-cap 1.03 per cent.According to provisional figures, foreign investors bought shares worth Rs 607.36 crore yesterday.There were a few that went up that cushioned the fall, which include ITC, PowerGrid, Bajaj Auto , ONGC and HDFC Bank.In Asia, most markets were closed today for a holiday. Japan's Nikkei ended lower by 1.69 per cent.European shares, however, were trading higher as major indices in France, Germany and the UK moved up.

Source: Times of India January 31, 2017 11:46 UTC