Reuters Market Eye - The broader Nifty falls 0.79 percent, while the benchmark BSE Sensex is down 0.77 percent after both indexes hit record highs in earlier in the session.
Technology shares down, with Wipro Ltd falling as much as 8.12 percent after the company's earnings missed estimates.
Tata Consultancy Services falls 0.36 percent, while Infosys Ltd is down 1.2 percent.
Among other stocks, Hindalco Industries falls 2.8 percent on profit-taking after gains in the last three sessions.
However, defensive stocks such as consumer and healthcare shares gain on portfolio de-risking. Hindustan Unilever adds 2 percent, while Sun Pharmaceutical Industries gains 3 percent.
Asian shares pulled away from this week's three-year highs on Friday after a mostly flat day on Wall Street, though a fresh S&P closing record and upbeat U.S. employment data underpinned sentiment.
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(Reporting by Indulal PM)