The Bombay Stock Exchange benchmark index, Sensex, fell by over 101 points in early trade on Friday on emergence of profit booking at prevailing higher levels.
The Sensex, which had gained 165.13 points on Thursday, fell 101.78 points at 12,172.49 in the first five minutes of trading due to profit-taking in heavy-weighted blue-chip stocks.
Similarly, the National Stock Exchange index Nifty dropped by 26.75 points at 3,526.30.
The major losers were Bajaj Auto, HDFC Ltd, Satyam Computers, ICICI Bank, Infosys Technologies, Reliance Industries, Larsen and Toubro, Tata Motors and Tata Consultancy Services and ONGC.
However, a few counters such as Grasim Industries, ACC, BHEL and Hero Honda remained firm on selective buying by funds.