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Benchmark indices retreat as IT and auto stocks drag markets lower
Indian markets ended Friday lower as IT and auto stocks weighed on sentiment, pushing Sensex down 367 points and Nifty below the 26,050 mark.
Friday’s trading session ended on a cautious note as Indian equity benchmarks slipped amid sustained selling pressure in IT and auto stocks. The Sensex declined 367 points to close at 85,041, while the Nifty fell 99.8 points to 26,042, slipping below the 26,050 level. During the session, the Nifty also breached its 20 day moving average, reflecting short term weakness. Nifty Bank extended losses for a third straight day, dropping 172 points. Broader markets underperformed, with the midcap index falling 137 points.