Nifty Ends Below 8650 Ahead of Budget; ITC Falls 3%

Today, markets opened on a bullish note on Friday with the major indices soaring in early hours. BSE Sensex closed at 27882.46 levels, up by 174.32 points or 0.63% while NSE Nifty closed at 8641.25, up by 38.5 points or 0.45%. Nifty hovered around all the crucial 8650 level before closing below it.

Maruti, Bharti Airtel, NTPC, SBI, GAIL, RIL, Powergrid and Infosys were some of the major index gainers on Friday. ITC, Lupin, Wipro, CIPLA, Hindustan Unilever, Asian Paints, Hero Motocorp and L&T were some of the top laggards on Friday, putting pressure on Sensex. Fertilizer stocks fell in the last hour of the trading. L&T fell in the last hour of the trading dragging the major benchmark indices down. ITC, FMCG, dragged the indices taking cues from its poor Q3 results.

Asian Market Update: Global indices closed flat in today’s trading session. Nikkei closed with a hike of 65 points at 19467, Hang Seng lost 13 points at 23360 while Shanghai Composite closed with minor hike of 9 points at 3159.

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