BENGALURU, Nov 13 (Reuters) - Indian shares fell on Friday as investors continued to lock in gains on bank shares following a sharp rally, while assessing retail inflation data that was higher than the central bank's target.
The NSE Nifty 50 index .NSEI was down 0.5% at 12,625.4 by 0351 GMT and the benchmark S&P BSE Sensex .BSESN fell 0.52% to 43,113.38. The two main indexes, however, were on track to post gains for the week.
The Nifty banking index .NSEBANK , which posted gains of over 20% in an eight-day winning streak until Wednesday, was down 1.3% in early Friday trading.
Private-sector lenders Indusind Bank INBK.NS , ICICI Bank ICBK.NS and Axis Bank AXBK.NS fell over 1.3% each.
Meanwhile, India's retail inflation was over 7% in October for a second straight month and remained above the Reserve Bank of India's (RBI) target of 2%-6%, giving the central bank little room to cut rates.