Indian markets dropped on Friday erasing earlier gains. At 11.02 a.m, the Sensex was trading down 50.53 points or 0.14% at 36,323.55 with 15 components falling. Meanwhile, the Nifty was trading lower by 10.90 points or 0.10% at 10,894.30 with 29 components falling.

Major losers in the 30-share index were Sun Pharmaceutical Industries (10.21%), Bharti Airtel (4.47%), Axis Bank (0.97%), Tata Power Company (0.79%), Coal India (0.62%), and ITC (0.48%).

On the other hand, Reliance Industries (1.34%), Oil & Natural Gas Corporation (1.21%), Wipro (1.10%), Kotak Mahindra Bank (1.04%), Asian Paints (0.71%), and Power Grid Corporation Of India (0.54%) were the major gainers in the Sensex.

Market breadth was negative with 686 advances against 1,013 declines.

Sun Pharmaceutical Industries topped the value chart on the BSE with a turnover of Rs. 866.27 million. It was followed by Reliance Industries (Rs. 396.05 million), I C I C I Bank (Rs. 320.99 million) and Jet Airways (India) (Rs. 315.21 million).

The volume chart was led by Reliance Communications with trades of over 6.74 million shares. It was followed by Sun Pharmaceutical Industries (2.26 million), Yes Bank (1.56 million) and Vakrangee (1.37 million).