Share market highlights: The Sensex and Nifty erased gains in the late afternoon trade on Friday, ahead of the CPI and IIP data scheduled to be relased today. The Sensex closed 87 points down at 38,736.23, while the Nifty ended above the 11,550-mark. Shares of Bajaj Finance, ONGC were among the biggest losers shedding more than 2% each. VEDL, Sun Pharma shares were the biggest gainers jumping up to 2.5%. Infosys shares closed marginally higher ahead of the Q1 results scheduled to be reported later today. Asian shares pulled back on Friday as worries over renewed Sino-U.S. trade tensions weighed on sentiment ahead of the release of June trade data from China, though expectations of a Federal Reserve rate cut later this month kept losses in check. Those bets remained strong despite a rise in U.S. consumer inflation in June, and helped to lift the S&P 500 index to a record closing on Thursday, Reuters reported.