The Hindu Business Line : Polls shadow markets; Sensex down 87 points

THE stock market on Friday lost all of Thursday's gains as profit-taking ahead of the final phase of the Lok Sabha election pulled indices by over 1.5 per cent.

In Friday's trading, the BSE Sensex was down by 87.72 points (1.52 per cent) to 5669.58; on the NSE, the S&P CNX Nifty closed at 1804.45, down 28.35 points (1.55 per cent).

Brokers said most market players took profit on the last day of the week. "With elections on Monday and the result of opinion polls for the final leg to come out in the next couple of days, nobody wanted to keep an overnight position," said a dealer with a domestic broking firm.

He said the mood in the market was cautious as the opinion poll and the results of exit polls are likely to rule market sentiment next week. In addition, the final result (on next Thursday) will decide the future trend of the market.

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