Indian equities dropped on Thursday erasing earlier gains. At 9.39 a.m, the Sensex was trading down 107.16 points or 0.30% at 35,632.00 with 20 components falling. Meanwhile, the Nifty was trading lower by 35.00 points or 0.32% at 10,821.70 with 32 components falling.

Major losers in the 30-share index were State Bank Of India (1.27%), Wipro (1.08%), Axis Bank (1.03%), NTPC (0.97%), ICICI Bank (0.96%) and Hero Motocorp (0.73%).

On the other hand, Dr Reddy'S Laboratories (0.71%), Tata Steel (0.63%), Bharti Airtel (0.52%), Infosys (0.33%) and HDFC Bank (0.22%) were the major gainers in the Sensex.

Market breadth was negative with 636 advances against 736 declines.

Bharti Airtel topped the value chart on the BSE with a turnover of Rs. 835.60 million. It was followed by Dr Reddy'S Laboratories (Rs. 95.75 million), Tata Consultancy Services (Rs. 84.48 million) and M R F (Rs. 81.51 million).

The volume chart was led by SBI SDFS - 90 Days - 60 - Dividend with trades of over 3.79 million shares. It was followed by Bharti Airtel (2.20 million), Alok Industries (1.54 million) and Jaiprakash Associates (0.92 million).