Indian shares inched up on Friday but investors remained concerned about rich valuations and high oil prices. India's 30-issue BSE Sensex closed 0.26 percent higher at 7,680.22, coming off its day high of 7,732.31 points.
The index lost 1.3 percent this week and has shaved off 3 percent from a record high hit last week, mainly on concerns that India's government will have to raise state-controlled fuel prices to account for more expensive crude.
Top-ranked Tata Consultancy Services Ltd ended 3.2 percent higher, while the fifth largest, HCL Technologies Ltd, rose 2.7 percent.
Cement stocks rose on hopes of an increase in retail prices. Associated Cement Co Ltd and Gujarat Ambuja Cements Ltd both rose about 3 percent.
Meanwhile, bond prices rose supported by a sharper-than-expected drop in domestic inflation to its lowest in 34 months and a purchase of long-dated securities by a cash-rich insurance company. The yield on the 7.37 percent 2014 bond eased to 7.0286 percent from Thursday's 7.0549 percent.
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