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Sensex Snaps Seven-Day Rally, Nifty Ends Below 8,850
20 Feb 2015, 06:36 PM IST 
The BSE benchmark Sensex snapped its seven-day winning streak on Friday as investors resorted to profit-booking ahead of the start of the Budget session on Monday.
The 50-share Nifty closed below its crucial psychological level of 8,850 weighed down by selling pressure is IT and oil & gas stocks.
The broader markets outperformed the benchmark indices. The BSE mid-cap and small-cap indices ended on a positive note.
Oil & gas, technology and banking stocks were the worst hit in trades today. The BSE oil & gas index fell nearly 2 per cent due to losses in Reliance Industries.
Shares of Reliance Industries came in selling pressure on news reports that an employee of the company has been detained in the corporate espionage case involving the alleged leak of classified documents from the petroleum ministry to corporates.
Technology stocks also faced selling pressure with IT heavyweights falling 1.5-3 per cent each. HCL Technologies, Infosys, Wipro and Tech Mahindra were among the top losers from IT pack on the Nifty.
ICICI Bank, Tata Power, Bharti Airtel, Ultratech Cement, Sesa Sterlite, Kotak Mahindra Bank, Larsen & Toubro, HDFC Bank and Cipla were also among the losers on the Nifty. On the other hand, BHEL, Bank of Baroda, ITC, IndusiInd Bank and Punjab National Bank were among the notable gainers.
The overall breadth on the BSE was neutral as 1500 stocks advanced while 1423 stocks declined.
The Sensex finally closed at 29,231 lower by 231 points and the Nifty settled at 8,833, down 62 points.