BENGALURU, Dec 6 (Reuters) - Indian shares gave up early gains and ended lower on Friday, dragged down by state-owned banking stocks, as investor risk appetite waned after the central bank held interest rates in a surprise move on Thursday.
The NSE Nifty 50 index closed down 0.81% at 11,921.50 at Friday’s close and the S&P BSE Sensex ended 0.82% lower at 40,445.15.
For the week, the NSE and BSE indexes lost 1.12% and 0.85%, respectively.
India’s central bank kept its key lending rate on hold in a shock decision that spooked markets on Thursday, even as it slashed its growth forecast for the economy to its lowest level in over a decade.
The Nifty state-owned banking index was down 4.39% and ended as the day’s biggest laggard among sectors.
Yes Bank dropped over 10%, while Bharti Infratel gained 5.55% among stocks. (Reporting by Derek Francis in Bengaluru; Editing by Shounak Dasgupta)