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IT and auto stocks drag benchmarks lower in Friday’s subdued close
Indian equities closed lower as IT and auto stocks weighed on sentiment, pulling Sensex down 367 points and Nifty below the 26,050 mark.
Markets ended Friday on a cautious note as selling pressure in IT and auto stocks pushed benchmarks lower. By the close, the Sensex fell 367 points to 85,041, while the Nifty slipped 99.8 points to 26,042, briefly breaching its 20-day moving average intraday. Nifty Bank declined for a third straight session, losing 172 points, and the midcap index dropped 137 points to 60,314. Coforge slid nearly 4% ahead of a fundraising meeting, while railway stocks outperformed, with RVNL gaining over 12% on a fare rollout.