Indian shares ended largely flat on Friday as losses in both indexes on account of profit-booking were capped by gains in Sun Pharmaceutical Industries Ltd after its Halol plant received Voluntary Action Indicated (VAI) status from the US health regulator.
The broader NSE index closed down 0.01 percent at 10,767.65, while the benchmark BSE index ended 0.05 percent lower at 35,443.67. Both indexes posted their third straight weekly gain, with the NSE index climbing 0.67 percent and BSE rising 0.61 percent for the week.
Shares of Sun Pharmaceutical Industries Ltd closed 8 percent higher after the US Food and Drug Administration issued VAI status to the drugmaker's Halol plant, boosting confidence that the company would soon obtain clearance for the plant.
Asian shares also fell as risk appetite soured on bets that Europe's massive monetary stimulus was nearing an end.
"Last week, we saw strong grubbing in the indexes and mid-cap space after which there was a bounce-back. Now, the markets are back to normal, with some kind of profit-booking post yesterday's gains," said Siddharth Sedani, vice president - head equity advisory at Anand Rathi.
HDFC and Larsen & Toubro Ltd were among the top drag on both indexes, dropping as much as 1.1 percent each.
Oil marketing firms Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd fell, hurt by higher oil prices on Venezuela's supply struggles and ongoing output cuts led by Opec.
The Nifty pharma index rose as much as 2.9 percent, but looked set to post a weekly gain, its second in three weeks.
Sun Pharmaceutical Industries Ltd jumped 5.7 percent, while Dr.Reddy's Laboratories Ltd rose 3.3 percent. Both stocks led gains on the NSE index.