Indian markets dropped  on Friday erasing earlier gains. At 15.02., the Sensex was trading down 545.92 points or 1.71% at 31,317.16 with 23 components falling.  Meanwhile, the Nifty was trading lower by 132.25 points or 1.42% at 9,181.65 with 39 components falling. 

The 30-share benchmark index, BSE Sensex opened with a decline of 436.46 points or 1.37% at 31,426.62, while the broad based NSE Nifty started with a fall of 150.00 points or 1.61%, at 9,163.90.

Bajaj Finance  (8.97%), Indusind Bank  (6.75%), Yes Bank  (6.54%), I C I C I Bank  (5.30%), Axis Bank  (4.91%),  and Housing Development Finance Corporation  (4.22%) were the major losers in the Sensex.

On the other hand, biggest gainers in the 30-share index were Reliance Industries  (3.80%), Sun Pharmaceutical Industries  (2.66%), Hero Motocorp  (2.59%), Oil & Natural Gas Corporation  (1.86%), Bajaj Auto  (0.80%),  and Larsen & Toubro  (0.79%).

Market breadth was negative with 670 advances against 1,403 declines.

Nippon India ETF Liquid BeES topped the value chart on the BSE with a turnover of Rs. 225.32 million.  It was followed by Omaxe  (Rs. 26.59 million), Dewan Housing Finance Corporation  (Rs. 9.79 million) and Adani Green Energy  (Rs. 3.80 million).

The volume chart was led by RattanIndia Power  with trades of over 1.64 million shares.  It was followed by Bajaj Hindusthan Sugar  (0.78 million), Dewan Housing Finance Corporation  (0.68 million) and Zee Learn  (0.23 million).