Among the sectoral indices, the BSE Healthcare index shed 217 points, or 1.52 per cent, to end the day at 14,147. It ended each of the previous five weeks higher, its longest gaining streak since late 2014.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,160.47 points, traded at 31,109.21 points - up 33.48 points or 0.11 per cent from its previous close at 31,075.73 points. Other than pharma, IT stocks were the other prominent losers in the Nifty. The BSE Sensex closed 19.33 points lower at 31,056.40, while the Nifty settled below the 9,600 mark for the second straight day, up 10 points at 9,588.05.
Risk appetite got a push after India's exports grew 8.32 per cent to $24.01 billion in May.
The Nifty50 closed the session 10 points higher at 9,588, but posted its first weekly loss in six.
Domestic sentiment was also buoyed as crude oil prices overseas fell to a 7-month low.
However, trade deficit soaring to almost 30-month high of Dollars 13.84 billion, largely due to increase in gold imports, forced investors to go in for a cautious approach.
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Most pharmaceutical stocks ended lower amid concerns of a decline in revenue in coming quarters owing to pricing pressures in the USA - their key market, and scrutiny from the Food and Drug Administration.
Cigarette and consumer goods maker ITC - which is among the highest weighted stocks on the Sensex - rose 1.5% to 306.30 rupees Friday on defensive buying.
"The broader markets marginally outperformed benchmarks".
Sector-wise, FMCG rose 0.62 per cent, private bank 0.54 per cent, finance service 0.51 per cent, bank 0.47 per cent, media 0.43 per cent, energy 0.38 per cent and realty 0.28 per cent.
Meanwhile, DIIs bought shares worth a net Rs 854.85 crore while foreign portfolio investors (FPIs) sold shares worth Rs 654.35 crore on Thursday, as per provisional data.