Indian markets dropped on Monday erasing earlier gains. At 9.15 a.m, the Sensex was trading down 136.10 points or 0.44% at 30,892.11 with 19 components falling. Meanwhile, the Nifty was trading lower by 35.05 points or 0.37% at 9,560.05 with 34 components falling.

Biggest losers in the 30-share index were Sun Pharmaceutical Industries (6.17%), ITC (1.83%), Mahindra & Mahindra (0.81%), Axis Bank (0.47%), Oil & Natural Gas Corporation (0.46%), and Infosys (0.35%).

On the other hand, GAIL (India) (0.91%), Bharat Heavy Electricals (0.73%), Tata Power Company (0.68%), Tata Motors (0.26%), Wipro (0.20%), and Reliance Industries (0.11%) were the major gainers in the Sensex.

Market breadth was positive with 343 advances against 141 declines.