Markets ended marginally lower after consolidating for most part of the trading session amid profit taking at higher levels after recent gains.
Meanwhile, the Rajya Sabha has voted in favour of the government for foreign direct investment in multi-brand retail.
The Nifty had touched 20-month high on Thursday after the UPA-led government late Wednesday won the Lok Sabha vote on allowing FDI in multi-brand retail.
The 30-share Sensex ended down 63 points at 19,424 and the 50-share Nifty ended down 24 points at 5,907.
The Sensex and the Nifty touched an intra-day low of 19,363 levels and 5,889 mark, respectively.
On the global front, Japan's [ Images ] Nikkei share average ended slightly lower on Friday, coming off a seven-month high, as profit-taking kicked in on a near month-long rally that has been inspired by yen weakness on expectations of bold central bank action.
Back home, BSE Realty index tumbled by nearly 2% followed by counters like IT, TECk, Metal, Banks and Oil & Gas, all falling down by 1% each.
However, BSE Consumer Durable and Auto indices gained by almost 1% each.
Shares of Information technology (IT) companies extended losses for third day in a row after Cognizant Technology Solutions said that it expects 16% revenue growth in 2013 as against its projected 20% growth for the current year 2012. TCS [ Get Quote ] and Infosys [ Get Quote ] declined by nearly 1% each.
Meanwhile, Infosys' dollar revenue growth outlook of 5% for the year ending March 2013 could be under threat, Chief Executive S D Shibulal was attributed as saying by UBS in an investor meet.
Index heavyweight Reliance [ Get Quote ] Inds slipped by nearly 1%. ONGC [ Get Quote ] ended marginally lower.
From the Metal segment, Sterlite was the top Sensex loser, down over 2%. Tata Steel [ Get Quote ] declined by over 1%.
Banks and financials which are proxy to the economy also witnessed some selling pressure.
HDFC [ Get Quote ], HDFC Bank and ICICI Bank [ Get Quote ] were down between 0.4-1%. British lender Barclays said yesterday the Reserve Bank is likely to leave the policy rates unchanged at the December 18 review and that a lending rate cut may happen only in the January policy announcement.
Other notable losers included NTPC, HUL, Bajaj Auto [ Get Quote ], Sun Pharma [ Get Quote ] and DRL.
On the winning side, Maruti Suzuki [ Images ] was the top Sensex gainer, up over 2%.
The stock touched a one-year high level after the company said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January.
Tata Motors [ Get Quote ] and M&M gained by almost 1%.
Tata Power [ Get Quote ], BHEL, Hindalco [ Get Quote ], Wipro [ Get Quote ] and CIL were other prominent gainers.
Meanwhile, BSE Midcap and Smallcap indices ended flat. The market breadth in BSE ended almost neutral with 1,436 shares advancing and 1,486 shares declining.
Claris Lifesciences dipped 4% to Rs 265, declining over 6% from day's high after the company said it has sold its infusions business for Rs 1,050 crore on slump sale basis.
Gitanjali Gems [ Get Quote ] soared almost 9% at Rs 521, also its record high on the BSE, on the back of heavy volumes.
Tara Jewels declined nearly 5% for the second day in a row, and was locked in lower circuit at Rs 219 on the BSE, with no buyers on the counter.
Hexaware Technologies [ Get Quote ] ended lower by 9% at Rs 97, extending its previous day's 3% fall, after the company revised its revenue guidance downwards for the current quarter and for the year ending December 31, 2012.