Indian equities dropped on Wednesday erasing earlier gains. At 9.38 a.m, the Sensex was trading down 144.71 points or 0.43% at 33,712.07 with 23 components falling. Meanwhile, the Nifty was trading lower by 45.40 points or 0.44% at 10,381.45.

Major losers in the 30-share index were State Bank Of India (1.53%), ICICI Bank (1.32%), Adani Ports and Special Economic Zone (1.25%), Axis Bank (1.14%), Bharti Airtel (1.14%), and Coal India (1.07%).

On the other hand, Tata Consultancy Services (0.75%), Cipla (0.61%), Infosys (0.52%), Maruti Suzuki India (0.37%), Asian Paints (0.17%), and Larsen & Toubro (0.15%) were the major gainers in the Sensex.

Market breadth was negative with 578 advances against 818 declines.

Castrol India topped the value chart on the BSE with a turnover of Rs. 160.89 million. It was followed by Fortis Healthcare (Rs. 111.37 million), Tata Consultancy Services (Rs. 110.38 million) and Punjab National Bank (Rs. 97.67 million).

The volume chart was led by Electrosteel Steels with trades of over 7.82 million shares. It was followed by G T L Infrastructure (2.92 million), Urja Global (1.65 million) and Lanco Infratech (1.58 million).