The Sensex and Nifty ended lower on Friday as investors booked profits a day after the Federal Reserve's decision to stand pat on US interest rates sparked a rally, but indexes still ended up for the week, posting their third weekly gain in four.

The broader NSE index fell 35.9 points or 0.4 per cent to 8,831.55, but rose about 0.6 per cent for the week.

The BSE index fell 104.91 points or 0.36 per cent to 28,668.22 but advanced 0.24 per cent for the week.

Among BSE sectoral indices, banking index fell the most by 1.23 per cent, power 0.61 per cent, TECk 0.37 per cent and healthcare 0.36 per cent. On the other hand, realty index was up 1.01 per cent, oil & gas 0.74 per cent and metal 0.18 per cent.

Top five Sensex gainers were Reliance (+1.41%), Dr Reddy's (+1.05%), TCS (+0.83%), HDFC (+0.54%) and HDFC Bank (+0.42%), while the major losers were Axis Bank (-5.84%), Lupin (-2.59%), Infosys (-1.46%), Power Grid (-1.46%) and ICICI Bank (-1.36%).

European shares fell on Friday, pulling back from two-week highs hit the previous session after the Federal Reserve signalled an increasingly cautious approach to future rate hikes, with banks leading sectoral fallers.

The pan-European STOXX 600 index was 0.7 percent lower, retreating a touch after having closed at its highest level since Sept. 9 on Thursday.

Asian shares held near 14-month highs on Friday on revived bets the Federal Reserve is settling into a phase of very gradual interest rate rises while Japanese bond yields fell after the Bank of Japan’s new policy scheme.

MSCI’s broadest index of Asia-Pacific shares outside Japan was steady and within sight of its highest levels since July 2015 that it hit in early September.

A report by SMC Global said: "Asian stocks fell, with the regional benchmark index retreating from the highest close in more than a year, as Japanese exporters declined with the yen trading near a one-month high. US stocks closed near session highs on Thursday, with the Nasdaq Composite notching a record close, as investor enthusiasm following the Federal Reserve's most recent policy update spilled over into a second session.A reading on leading US economic indicators unexpectedly saw a modest decrease in the month of August, the Conference Board revealed in a report. The Conference Board said its leading economic index edged down by 0.2 per cent in August after climbing by an upwardly revised 0.5 per cent in July. Economists had expected the index to inch up by 0.1 per cent compared to the 0.4 per cent increase originally reported for the previous month."

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