Indian shares traded lower in the afternoon session on Friday on the back of profit booking after a three-day rally, and ahead of the Reserve Bank of India board meeting later in the day.

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The central board of the Reserve Bank of India (RBI) under new Governor Shaktikanta Das will meet on Friday where the directors are likely to push for a greater say in the decision making of the central bank.

At 11:45 AM, the BSE Sensex was down 40 points at 35,888 points and the NSE Nifty dropped 13 points, to trade at 10,778 points.

The BSE Sensex opened 58 points lower, at 35,870 points while the NSE Nifty opened 32 points lower, at 10,759 points. However, the market had recovered in the first hour of trade.

Fortis Healthcare tanked 10 percent in trade after the Supreme Court put the sale of the company on hold.

HCL Tech, Maruti Suzuki, HDFC, Titan Company and Bajaj Auto were the top five Nifty losers.

Yes Bank gained 1.49 percent after it was reported that Brahm Dutt is likely to be appointed the part-time non-executive chairman of the bank. Currently Brahm Dutt is serving as Independent Director of the bank since July 24, 2013.

Bharti Airtel, IOC, Asian Paints and Grasim were among the other top Nifty gainers.

Bharti Airtel gained 5.74 percent in early trade after TDSAT struck down TRAI's predatory pricing norms while IOC gained 3.28 percent after the buyback of 3.06 percent equity shares at Rs.149 per share.

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First Published:Dec 14, 2018 12:24 PM IST