BENGALURU (Reuters) – Indian shares slipped from record highs on Friday, dragged down by banking stocks, as investors locked in gains after indexes scaled fresh peaks in 18 of the past 27 sessions.

The blue-chip NSE Nifty 50 index fell 0.34% to 13,694.20 by 0446 GMT, while the benchmark S&P BSE Sensex was down 0.33% at 46,735.12. However, both indexes are on track for a seventh straight week of gains, a streak not seen since April last year.

“(The markets) have run up one way for quite some time,” said Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors in Mumbai. “We will have all dips being bought in.”

However, Indian markets have mostly outperformed other Asian markets this year, boosted by record inflows from foreign institutional investors (FIIs), vaccine progress globally and signs of a nascent economic recovery in the country.

“I don’t see any big correction unless there is some interruption in liquidity. We are seeing average buying of at least 20 billion rupees ($271.96 million) per day from the FIIs,” Dasgupta said.

Axis Bank fell 0.8%, after local media reports said that the private-lender expected an increase in retail non-performing loans in the third and fourth quarters of this financial year.

Defence manufacturers and suppliers Hindustan Aeronautics Ltd and Bharat Dynamics rose between 0.2% and 1.2%. India’s defence ministry on Thursday approved proposals to procure equipment worth 270 billion rupees from the domestic industry.