The Sensex and Nifty ended flat as a fall in information technology and pharmaceutical shares on worries over their earnings outlook offset a bounceback in bank stocks.
The broader NSE index gained 10 points or 0.1 per cent to end at 9,588.05 points, but fell 0.76 per cent for the week. It ended each of the previous five weeks higher, its longest gaining streak since late 2014.
The BSE index fell 19.33 points or 0.06 per cent to 31,056.40 and fell 0.66 per cent for the week.
Among BSE sectoral indices, FMCG index was up 0.58 per cent, consumer durables 0.5 per cent, banking 0.48 per cent and realty 0.35 per cent. On the other hand, healthcare index fell the most by 1.52 per cent, IT 0.83 per cent, TECk 0.68 per cent and capital goods 0.14 per cent.
Top five Sensex gainers were Tata Motors (+1.57%), ITC (+1.46%), Adani Ports (+0.67%), State Bank of India (+0.63%) and NTPC (+0.53%), while the major losers were Lupin (-4.4%), Sun Pharma (-2.78%), Wipro (-2.24%), Cipla (-2.2%) and Infosys (-1.24%).
Banking stocks made a comeback after consolidating in the past few sessions and the Nifty PSU bank index gained 0.33 per cent. The index ended lower in three of the last four sessions.
IT shares fell on worries over outlook at a time when US President Donald Trump is contemplating tougher visa actions in a key market for software services exporters.
Drug makers also fell amid worries about their earnings outlook because of pricing pressures in the United States.
Early trade
The BSE Sensex rebounded 107 points and the NSE Nifty reclaimed the 9,600-mark propelled by export growth in May amid firm Asian cues.
Risk appetite got a push after India’s exports grew 8.32 per cent to $24.01 billion in May, mainly on account of robust performance by sectors like petroleum, chemicals, engineering goods as well as gems and jewellery.
Domestic sentiment was also buoyed as crude oil prices overseas fell to a 7-month low.
The 30-share index recovered sharply by 107 points or 0.34 per cent to 31,182.73, with all sectoral indices led by auto, consumer durables, realty and oil and gas trading in the positive zone.
The gauge had lost 80.18 points in the previous session. The NSE Nifty moved up by 30.10 points or 0.31 per cent to 9.608.15.
Asian shares
Asian stocks were steady on Friday, appearing to take in stride the resumption of the US technology rout overnight, while the dollar held near a two-week high after solid economic data backed the case for tighter US monetary policy.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat, on track to end the week down 0.7 per cent. Japan's Nikkei jumped 0.5 per cent, narrowing its loss for the week to 0.4 per cent.