Among the top losers from the Nifty were Infosys, Reliance and TCS.
Steel Authority dropped ahead of the government's stake sale in the company at Rs 63 a share. The price of the shares fell to Rs 63.65 on the National Stock Exchange.
Oil exploration major, Oil and Natural Gas Corporation gained after the company said it will invest over Rs 4,051 crore in revamping infrastructure at its key oil and gas fields off the Mumbai coast.
Cairn India which dropped to a 52-week low earlier this week also saw gains after the operator of India's biggest onshore oilfield in Rajasthan, said it will start commercial sale of gas from the block to fertiliser firms in Gujarat shortly.
Bharti Airtel which rallied on Thursday dropped again after the telecom department wants telecom operators to give up an additional Rs2,764.3 crore towards a one-time charge for airwaves they had held.
The Bharti Stock was down one per cent in trade. PSU banking stocks which have lost heavily in the last few days, saw buying interest at lower levels. Prominent gainers from the space included Bank of India, Bank of Baroda and Oriental Bank of Commerce.
Mid cap stocks which were whacked out of shape in the last 5 trading sessions continued to grind lower with losers including Crompton Graves, Hexaware and Sun TV Network.
Meanwhile, markets in Asia were trading mixed with prominent gainers including the Shanghai Composite and the Taiwan Weighted, while the Hong Kong's Hang Sang and Japanese Nikkei lost ground.