Indian equities dropped on Friday erasing earlier gains. At 1.03 p.m, the Sensex was trading down 1,027.40 points or 2.67% at 37,443.21 with 29 components falling. Meanwhile, the Nifty was trading lower by 315.25 points or 2.80% at 10,953.75 with 49 components falling.

All shares in the Sensex settled with losses. IndusInd Bank (7.03%), State Bank Of India (6.45%), Tata Steel (6.10%), and Bajaj Finance (4.40%) were the major losers in the Sensex.

HDFC FMP - 370 D - May 2012 (3) - Series 22 - Normal Dividend topped the value chart on the BSE with a turnover of Rs. 14.02 million. It was followed by Swan Energy (Rs. 8.14 million), Atlas Jewellery India (Rs. 7.24 million) and Reliance Infrastructure (Rs. 5.94 million).

The volume chart was led by Reliance Infrastructure with trades of over 0.35 million shares. It was followed by I F C I (0.30 million), HDFC FMP - 370 D - May 2012 (3) - Series 22 - Normal Dividend (0.17 million) and Atlas Jewellery India (0.10 million).