Indian benchmark indices closed lower on Friday, ending a two-day winning streak, as profit booking intensified amid weak global cues, higher crude oil prices, and continued pressure on the rupee.

The BSE Sensex fell 160.73 points, or 0.2%, to close at 75,237.99, while the NSE Nifty 50 declined 46.10 points, or 0.2%, to settle at 23,643.50.

Market sentiment stayed subdued as investors tracked a sharp rise in crude oil prices and the rupee's slide to a fresh record low of over 96 rupees against the U.S. dollar. Persistent foreign outflows added to pressure on the domestic currency.

In corporate developments, Indobell Insulations (BOM:544334) secured a 13.9 million rupee domestic contract from Bharat Heavy Electricals (NSE:BHEL, BOM:500103) for thermal insulation work, scheduled for completion by July 2027.

Lupin (NSE:LUPIN, BOM:500257) announced the launch of Atharv Ability in New Delhi, a neuro-rehabilitation center focused on multidisciplinary treatment for neurological disorders, as per a stock exchange filing.

Separately, Indian billionaire Gautam Adani and Sagar Adani reached a settlement with the U.S. Securities and Exchange Commission in a civil case, agreeing to pay civil penalties of $6 million and $12 million, respectively, without admitting or denying the allegations.