Indian markets dropped on Friday erasing earlier gains. At 9.55 a.m, the Sensex was trading down 60.66 points or 0.19% at 31,230.08 with 22 components falling. Meanwhile, the Nifty was trading lower by 24.70 points or 0.26% at 9,605.30 with 41 components falling.

Major losers in the 30-share index were Adani Ports and Special Economic Zone (1.94%), Hero Motocorp (1.69%), Bharat Heavy Electricals (1.57%), Tata Steel (1.37%), Hindustan Unilever (1.12%), and ICICI Bank (1.02%).

On the other hand, Cipla (0.75%), Dr Reddy'S Laboratories (0.73%), NTPC (0.57%), Wipro (0.53%), Tata Consultancy Services (0.49%), and Infosys (0.48%) were the biggest gainers in the Sensex.

Market breadth was negative with 483 advances against 1,174 declines.

Tata Motors topped the value chart on the BSE with a turnover of Rs. 37,638.68 million. It was followed by Max India (Rs. 2,136.12 million), Himatsingka Seide (Rs. 975.89 million) and IRB InvIT Fund (Rs. 634.30 million).

The volume chart was led by Tata Motors with trades of over 83.70 million shares. It was followed by Max India (13.81 million), IRB InvIT Fund (6.51 million) and Jaiprakash Associates (4.18 million).