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Sensex loses 267 pts, Nifty ends below 9300 on profit booking

Equity benchmarks erased previous day’s gains, up nearly a percent on profit booking in banks, oil and metals stocks.The 30-share BSE Sensex was down 267.41 points at 29,858.80 and the 50-share NSE Nifty slipped 74.60 points to 9,285.30.

Asian Paints, SBI, Aurobindo Pharma and Indiabulls Housing Finance were top gainers on both the indices, while Tata Motors, ONGC and Hindalco lost the most.

The stock price of Avenue Supermarts, the operator of retail chain D-Mart, hit a record high of Rs 814, up 5.3 percent intraday Friday ahead of its first quarterly earnings due on May 6.

The Street will closely watch its March quarter earnings, especially after bumper listing on March 21. The stock shot up 172 percent from its issue price of Rs 299 and gained more than 30 percent from listing price of Rs 600.

Important key points in earnings to watch out for would be its revenue growth, same-store-sales growth and margin. Analysts say the company is unlikely to disappoint given strong financial history.

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