Indian markets dropped on Friday erasing earlier gains. At 12.57 p.m, the Sensex was trading down 81.73 points or 0.28% at 29,340.66 with 20 components falling. Meanwhile, the Nifty was trading lower by 12.05 points or 0.13% at 9,124.35 with 36 components falling.

Major losers in the 30-share index were Sun Pharmaceutical Industries (2.16%), ICICI Bank (1.52%), ITC (1.22%), Cipla (1.21%), Housing Development Finance Corporation (1.20%), and Adani Ports and Special Economic Zone (1.13%).

On the other hand, Reliance Industries (2.31%), NTPC (1.53%), Axis Bank (1.09%), Oil & Natural Gas Corporation (0.72%), Larsen & Toubro (0.64%), and Asian Paints (0.47%) were the major gainers in the Sensex.

Market breadth was negative with 1,378 advances against 1,113 declines.

Dalmia Bharat topped the value chart on the BSE with a turnover of Rs. 19,650.14 million. It was followed by Max Financial Services (Rs. 11,601.65 million), Asian Paints (Rs. 1,586.80 million) and Spicejet (Rs. 1,043.63 million).

The volume chart was led by Max Financial Services with trades of over 18.37 million shares. It was followed by Spicejet (9.77 million), Dalmia Bharat (9.47 million) and KSK Energy Ventures (6.90 million).