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Nifty settles below 8,900 mark ahead of IIP

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Sensex ,blue-chips, shed, market cap, nifty

Mumbai: The Indian equity market ended with losses on Friday. Weak global cues, profit booking and a weak rupee dampened the sentiment. The IT index rebounded after a two-day drubbing, making it the only advancing sectoral gauge on the NSE. The NSE IT index closed higher by 0.50%.

Finally, the BSE Sensex ended with a loss of 248 points at 28,797. The BSE Sensex opened at 29,063 and touched an intra-day high of 29,062.90 and low of 28,755.

The NSE Nifty closed with a loss of 86 points at 8,867. The NSE Nifty opened at 8,934 hitting a high of 8,939 and low of 8,859.

Indian shares dropped most in a 2-week period after investors chose to book profits in banks and auto companies from record levels. Market sentiment was also influenced by investors treading cautiously ahead of IIP data due to be released today.

Heavy selling pressure was witnessed in FMCG, metal, auto, banking, industrial, pharma, capital goods and power stocks, while oil & gas, energy, realty, IT and technology stocks were among the gainers.

Among the 50-stocks of Nifty, ONGC, GAIL, Wipro, TCS, RIL, HCL Tech, HDFC Bank and Dr. Reddy's were among the gainers on NSE, whereas Hindalco, Yes Bank, UltraTech Cement, Axis Bank, Hero MotoCorp and Cipla were among the losers today.

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