India’s equity benchmarks ended lower on Friday on losses from banks and Reliance Industries, tarnishing a week in which the government’s lofty spending budget propelled blue-chip indices to their first gain weekly in three.

Dear Trader… Indian equity benchmarks ended a choppy session slightly lower on Friday, extending losses to a second straight day. Benchmarks started on a muted note and remained volatile throughout the day with a bearish ton. Traders sounded cautious amid a private report that said internal Treasury Department projections of what real gross domestic growth could be in FY23 are lower than the reported 8-8.5%.