India's benchmark stock indices ended lower for the second day after swinging between gains and losses through Friday, dragged by losses in PSU banks, fast moving consumer goods and I.T. stocks.
The headline indices advanced for the third week in a row on Friday.
European stocks and U.S. futures slid following a strong rally in Asia. Chemical shares led losses in Europe after a downbeat earnings statement from Croda International Plc.
In Asia, stocks headed for a second weekly gain, with Japan's Nikkei 225 set to complete a nine-week advance that would be its longest winning streak in more than five years. The index jumped nearly 2% on Friday and South Korean equities climbed to levels last seen a year ago.
The S&P BSE Sensex closed 223 points, or 0.35%, lower at 62,625.63, while the NSE Nifty 50 declined 71 points, or 0.38%, to end at 18,563.40.
Infosys Ltd., Hindustan Unilever Ltd., State Bank of India, Reliance Industries Ltd., and ITC Ltd. weighed on the Nifty 50.
Axis Bank Ltd., L&T Ltd., HDFC Bank Ltd., ICICI Bank Ltd., and IndusInd Bank Ltd. were among the top gainers in the index.
The broader market indices outperformed its larger peers, with the S&P BSE MidCap gaining 0.03% and the S&P BSE SmallCap rising 0.02% at close of market on Friday.
Fifteen out of the 19 sectors compiled by BSE declined, while four sectors advanced with S&P BSE Capital Goods gaining the most.
The market breadth was split between the buyers and the sellers. About 1,744 stocks rose, 1,788 declined, and 116 remained unchanged on the BSE.
The headline indices logged slim gains this week. Sensex logged weekly gains of 0.13% and the Nifty advanced 0.16%.
Last week, the indices ended marginally higher. The S&P BSE Sensex Index was up 0.07%, and the NSE Nifty 50 Index was higher by 0.19%.
Sectorally, Nifty Auto Index, Nifty Realty Index and Nifty Metal Index led the pack this week, while Nifty IT Index and Nifty PSU Bank Index were the worst performers of the week.
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