(Corrects last paragraph to say among the losers, not gainers)
* NSE, BSE indexes down about 0.4 pct
* On track for a near 2 pct gain on week
* NSE bank index snaps five-session winning streak
By Darshana Sankararaman
April 28 Indian shares retreated further on
Friday from record highs hit this week as investors booked
profits ahead of a long weekend, but still were on track to post
their biggest weekly gain in six.
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 broader NSE index was down 0.45 percent at
9,299.80 by 0533 GMT, while the benchmark BSE index was
0.40 percent lower at 29,908.49.
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.
Consumer goods and cigarettes maker ITC Ltd
declined for a second day and was down 2.6 percent and was the
biggest loser on the NSE index.
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
(Reporting By Darshana Sankararaman in Bengaluru; Editing by