IGI Logo

BENGALURU- Indian shares dropped on Friday tracking the broader Asian market, posting their second consecutive weekly loss, weighed by metal and financials stocks.

The blue-chip NSE Nifty 50 index fell 0.10% to 15,763.05 and the benchmark S&P BSE Sensex was down 0.13% at 52,586.84. Both indexes lost more than 0.50% for the week.

The Nifty Metal index, which closed 0.70% lower on the day, has risen 7.78% for the week. The Nifty Bank index ended 0.31% lower and has lost 1.28% this week.

The Nifty auto index helped trim some of those losses, gaining 0.92%, with Ashok Leyland jumping 6.1% after it said U.S. auto parts maker Dana would make a strategic investment in its electric vehicle unit.

TVS Motor Company rose 3.1% after the two-wheeler maker posted a quarterly profit compared to a year-ago loss.

Tech Mahindra closed 7.3% up after it reported a 39% growth in consolidated quarterly profit.

Globally, shares tracked Asia lower on Friday but remained on course for their sixth straight month of gains as solid corporate earnings and central bank largesse kept sentiment intact, while the dollar held near a one-month low. [MKTS/GLOB]

(Reporting by Rama Venkat in Bengaluru; Editing by Krishna Chandra Eluri)