The benchmark BSE Sensex were trading lower, snapping a five-day winning streak, dragged down by some recent outperformers on profit-taking while healthcare stocks fell for the second straight day on rating downgrades.
The indexes are however heading towards a second consecutive weekly gain.
Corporate earnings are likely to be the next immediate trigger for the markets as companies are expected to report Jan-March earnings starting next week, traders said.
"I think markets are in a trading range. Though the undercurrent is positive, we will have to wait till the next quarter earnings to see any major ground-level changes in corporate earnings. Monsoon rains will also be a crucial factor," said Samir Gilani, head, investment advisory at Radner Capital Advisors.
The benchmark BSE index fell 0.18 percent to 28,834.65, but is up 1.98 percent on the week.
The broader NSE index is down 0.24 percent at 8,756.90, but has gained 1.97 percent on the week so far.
Blue chip stocks fell on profit-taking. HDFC Bank, which gained 2 percent on Thursday, fell 1.2 percent.
ITC Ltd, which gained 2 percent in the last two sessions, fell 1.1 percent.
Healthcare stocks continued to fall after Bank of America-Merrill Lynch downgraded several pharmaceutical companies on Thursday. Cipla fell 2.1 percent, adding to its 2.3 percent fall on Thursday, while Sun Pharmaceutical Industries is down 0.8 percent. The stock fell 3.2 percent on Thursday.
Shares in IDFC gained 2.1 percent on reports that it would start its banking operations from Oct. 1.
| BSE-YIELD PERCENTAGE | Sensex | BSE-100 | BSE-200 |
| Today's | 1.2 | 1.12 | 1.18 |
| Previous | 1.21 | 1.14 | 1.19 |
| A week ago | 1.22 | 1.15 | 1.2 |
| A month ago | 1.27 | 1.18 | 1.23 |
| A year ago | 1.34 | 1.34 | 1.37 |
First Published on April 10, 2015 10:07 am
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