Indian shares ended lower on Friday, retreating from record highs hit this week as investors booked profits ahead of a long weekend, but indexes still posted their biggest weekly gain in six. The benchmark BSE index ended 0.37 percent lower at 29,918.40, but gained 1.88 percent for the week. The broader NSE index closed down 0.41 percent at 9,304.05, but was up 2 percent for the week.

Both indexes posted their fourth straight month of gains. The benchmark BSE index and the broader NSE index were headed for a near 2 percent gain this week, their best performance since mid-March as hopes of improving corporate earnings and accelerating economic growth lifted the indexes to all time highs. "Markets have been rising for so long. Any selloff can be partly attributed to profit taking, especially ahead of the three-day weekend," said Deepak Jasani, head of retail research at HDFC Securities.

Indian markets are closed on Monday for a public holiday. The NSE bank index fell 0.6 percent, snapping a five-session winning streak. Housing Development Finance Corp Ltd and HDFC Bank Ltd were the biggest losers on the index, dropping over 1.5 percent each. Among the losers, biopharmaceutical company Biocon Ltd fell as much as 3.4 percent after the company on Thursday reported a 62 percent plunge in March-quarter consolidated profit.

Copyright Reuters, 2017