The 50-share Nifty plunged by 134.75 points or 1.23 per cent to close at 10,862.60 points as 38 of its constituents declined.
On the Sensex chart, IndusInd Bank was the biggest gainer, spurting 5.45 per cent, followed by Bharti Airtel, ICICI Bank, SBI, M&M, Kotak Bank, Tata Steel and HDFC Bank.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
The 30-share Sensex ended 523 points higher at 28,785 after hitting fresh all-time high level of 28,829.29 and the 50-share Nifty closed up 145 points at 8,695 after touching life-time high level of 8,707.90.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Top gainers in the Sensex pack were Tata Motors, ONGC, Yes Bank, IndusInd Bank and Vedanta -- rising up to 2.71 per cent.
The broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioural change or is transitory. The economists at the country's largest lender attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more.
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
The wider NSE Nifty too fell by 61.40 points or 0.57 per cent to end at 10,618.25.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
Top losers in the Sensex pack included Sun Pharma, Vedanta, ONGC, TCS, HUL, ITC, NTPC, Asian Paints and Infosys, shedding up to 4.23 per cent.
The 50-share NSE Nifty inched up 5.95 points, or 0.06 per cent, to 10,127.75 points.
Bajaj Auto was the top gainer in the Sensex pack, surging around 7 per cent, followed by Bajaj Finance, Bajaj Finserv, Kotak Bank, PowerGrid and Axis Bank. On the other hand, ONGC, HDFC, TCS and Reliance Industries were among the laggards.
Vedanta, Tata Steel, Tata Motors, ONGC, M&M, Maruti, NTPC and HUL too fell up to 4.06 per cent.
The Nifty closed at 10,335.30, down 28.35 points, or 0.27 per cent.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
The market breadth was extremely negative. 1638 stocks declined for 1138 stocks which advanced.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
Better-than-expected quarterly earnings by select index heavyweights, easing of US-EU trade tensions and firm foreign capital inflows boosted investor sentiment, brokers said.
The broader 50-issue NSE Nifty slipped from its record closing, shedding 2.30 points or 0.02 per cent to end at 11,132.00.
Hero MotoCorp was the top gainer in the Sensex pack, spurting 4.46 per cent. IndusInd Bank, Tata Motors, Vedanta, SBI, M&M, Sun Pharma, Tata Steel, HDFC and HDFC Bank too rose up to 3.63 per cent.
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
BSE Metal and IT indices plummeted by almost 2%
Bharti Airtel was the top gainer in the Sensex pack, rallying over 7.20 per cent, followed by Tata Steel 4.99 per cent, IndusInd Bank 3.49 per cent, Axis Bank 3.26 per cent and HDFC 2.57 per cent.
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The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
Bajaj Finance was the top laggard in the Sensex pack, skidding over 2 per cent, followed by Kotak Bank, Nestle India, HDFC, M&M and ICICI Bank. ONGC was the top gainer, rallying around 8 per cent. NTPC, Asian Paints, Tech Mahindra, PowerGrid and IndusInd Bank were among the other winners.
The broader NSE Nifty climbed 61.60 points, or 0.58 per cent, to close at 10,772.05.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
Overseas investors were one of the heavy buyers.
