Indian equities dropped on Friday erasing earlier gains. The Nifty was trading near life time high. At 9.34 a.m, the Sensex was trading down 67.36 points or 0.18% at 37,957.01 with 20 components falling. Meanwhile, the Nifty was trading lower by 9.35 points or 0.08% at 11,461.35 with 32 components falling.

Biggest losers in the 30-share index were State Bank Of India (1.52%), Sun Pharmaceutical Industries (1.10%), Coal India (0.93%), Housing Development Finance Corporation (0.78%), Reliance Industries (0.75%), and Axis Bank (0.67%).

On the other hand, Bharti Airtel (1.53%), Asian Paints (1.14%), Dr Reddy'S Laboratories (0.66%), Tata Power Company (0.50%), Kotak Mahindra Bank (0.45%), and Adani Ports and Special Economic Zone (0.41%) were the biggest gainers in the Sensex.

Market breadth was negative with 712 advances against 641 declines.

AU Small Finance Bank topped the value chart on the BSE with a turnover of Rs. 18,444.34 million. It was followed by Jet Airways (India) (Rs. 197.16 million), Nestle India (Rs. 170.88 million) and PC Jeweller (Rs. 136.27 million).

The volume chart was led by AU Small Finance Bank with trades of over 27.00 million shares. It was followed by Reliance Communications (3.22 million), Kwality (2.23 million) and Jaiprakash Associates (2.22 million).