The broader NSE Nifty50 settled 27 points in the red at 10,795 and the BSE Sensex 97 points lower, settling just above 36,000 mark.
Indian shares failed to hold the opening gains despite a recovery seen in the last hour on Friday. Benchmark indices ended the session with a fall of 0.3 percent each with market breadth in favour of declines. The broader NSE Nifty50 settled 27 points in the red at 10,795 and the BSE Sensex 97 points lower, settling above 36,000 mark. For the week, Nifty gained 0.6 percent, while Sensex surged a percent.
From the broader markets, Nifty Midcap index slipped 36 points to 17,656 and Nifty Bank 75 points lower at 27,454.
Tata Consultancy Services (TCS) was the biggest index loser followed by Reliance Industries, L&T, IndusInd bank and SBI. But another IT major, Infosys along with heavyweights such as ITC and HDFC batted for the bulls, helping indexes limit losses.
From the Nifty pack, Tata Motors saw a fall of 3 percent in Friday’s trade. Yes Bank share declined more than 1 percent amid CNBCTV18 reports that the Search & Selection Committee has recommended two names for the post of managing director and chief executive officer.
The first preference is a foreign bank CEO, while Rajat Monga, currently serving as Senior Group President at the bank is the second preference, CNBCTV18 added.
Among midcap stocks, Bandhan Bank erased gains seen after earnings as the brokerage firm Macquarie downgraded the stock to underperform.
In the derivatives space, Nifty Call options of 11,100, 10,900 and 11,000 have added 3-6 lakh shares in the open interest with premiums slipping up to 26 percent. Nifty January Futures closed with a premium of 18 points against a premium of 36 points on Thursday.
On the global front, Asian stocks mostly gained on Friday amid improved investor sentiment following overnight gains on Wall Street.
The mainland Chinese markets settled largely higher with the Shanghai composite up about 0.74 percent to close around 2,553.83, while the Shenzhen composite gained 0.76 percent to about 1,313.36.
The Shenzhen component also rose 0.6 percent to close around 7,474.01. Meanwhile, Hong Kong's Hang Seng index gained about 0.5 percent.
Elsewhere in Asia, Japan's Nikkei 225 rose 1 percent to close at 20,359.70, while the Topix index gained 0.5 percent to finish its trading week at 1,529.73.
South Korea's Kospi also rose 0.6 percent to close at 2,075.57.
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