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Indian shares edged higher in a choppy session on Friday, led by gains in Reliance Industries, but the market witnessed a third consecutive weekly fall on continued concerns over slowing reforms and weak monsoon.
Caution also prevailed ahead of retail inflation and factory output data due later in the day.
"Macro data is key but passage of reforms and progress of monsoon would be watched thereafter," said Deven Choksey, managing director at K R Choksey Securities.
The 30-share BSE index Sensex ended higher by 54.32 points or 0.21 per cent at 26,425.30 and the 50-share NSE index Nifty ended up by 17.55 points or 0.22 per cent at 7,982.90.
Among BSE sectoral indices, banking index was up 1.09 per cent, followed by power 0.43 per cent, oil & gas 0.27 per cent and PSU 0.07 per cent. On the other hand, IT index fell the most by 1.62 per cent, followed by metal 1.42 per cent, consumer durables 1.13 per cent and TECk 1.12 per cent.
Top five Sensex gainers were Bajaj Auto (+3.53%), Tata Power (+3.49%), ICICI Bank (+2.53%), BHEL (+2.06%) and HDFC (+2.04%), while the major losers were TCS (2.29%), Hindalco (-2.14%), Tata Motors (-2.03%), VEDL (-1.97%) and Wipro (-1.87%).
FII selling
Selling by foreign investors continued amid worries that a likely weak monsoon may delay key reforms and further cuts in borrowing costs also weighed.
Overseas investors have sold nearly $200 million worth of cash shares in June so far, adding to the $900 million worth of shares sold in the previous month, depository and exchange data showed.
Global markets
European stock markets woke up to a Greek hangover on Friday, with the latest twists and turns of debt negotiations keeping investor confidence in check despite market views that a compromise will be reached.
The pan-European FTSEurofirst 300 index was 0.2 per cent lower at 0730 GMT, with most major benchmark indexes in the red. Greece's ATG share index was 0.6 per cent lower.
Asian share markets made guarded gains on Friday and the dollar held firm in the wake of reassuringly upbeat US retail data, though the mood was cautious as Greek debt talks took yet another confusing turn.
Activity was sparse with MSCI’s index of Asia-Pacific shares outside Japan up 0.3 per cent, but only just above three-month lows.
US stocks climbed on Thursday as retail sales data lifted the outlook for consumer spending and as healthcare shares gained.
The Dow Jones industrial average rose 38.97 points or 0.22 per cent to 18,039.37, the S&P 500 gained 3.66 points or 0.17 per cent to 2,108.86 and the Nasdaq Composite added 5.82 points or 0.11 per cent to 5,082.51.
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