Indian shares slipped on Friday, led by bank stocks, as coronavirus cases neared the 2 million mark, further dampening the economic outlook for the world's third worst pandemic-hit nation.

At 1 pm, The 30-share BSE barometer was quoted at 37,990.20, down by 35.25 points. It ended at 38,025,45 yesterday.

Similarly, the NSE Nifty slipped 11.50 points to 11,188.65.

While a moderate selling pressure was seen in pharma and IT, buying interest was seen in automobile, banking, FMCG and financial services stocks.

The Nifty banking index was trading lower by 0.21%. HDFC Bank and ICICI Bank were among the top drags on the Nifty 50, falling roughly 1% each.

Electrotherm (India) Ltd surged 19.99% to Rs 119.15. The stock was one of the biggest gainers in the BSE's 'B' group. On the BSE, 6,154 shares were traded on the counter so far as against the average 2-week average volumes of 4,914 shares.

PAP Automotive Ltd climbed 16.75% to Rs 187.50 on the BSE today.The stock was another biggest gainer in 'B' group. On the BSE, 22,000 shares were traded on the counter so far as against the two-week average volumes of 854 shares traded.