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I think the underlying India story still looks very strong and so that yes, it is at the moment just the market is probably vulnerable to a bit of profit taking in the very short term.

Pine Labs is reportedly considering a US IPO that could value the company at over $6 billion. The offering is expected to include both new and secondary shares, and the company may pursue a pre-IPO funding round.

After surpassing giants like Microsoft and Apple, Nvidia has become more valuable than some of largest global markets.

The Nifty Pharma index closed 0.08 per cent down at 19528.4.

​Domestic brokerage firm Nuvama initiated coverage on Bikaji Foods, with a target price of Rs 885, as the company has emerged as a heavyweight in the rapidly expanding Indian savoury snacks market.

Nifty50 and Sensex gave up early gains on Friday, dragged by index heavyweights Reliance Industries and HDFC Bank.

Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.

​But the real big story today in India, not only for two-wheelers but for across products and categories is the game of premiumisation. The young aspirational India is very much looking to upgrade themselves to premium products.

The Nifty Auto index closed 0.69 per cent down at 25092.3.