Indian equities dropped on Monday erasing earlier gains. At 9.40 a.m, the Sensex was trading down 45.55 points or 0.13% at 35,576.59 with 17 components falling. Meanwhile, the Nifty was trading lower by 8.30 points or 0.08% at 10,809.40 with 35 components falling.

Biggest losers in the 30-share index were Tata Steel (1.93%), Kotak Mahindra Bank (1.45%), Coal India (1.38%), Adani Ports And Special Economic Zone (0.91%), Yes Bank (0.80%) and Hero Motocorp (0.74%).

On the other hand,  ICICI Bank (2.48%), NTPC (0.74%), Tata Motors (0.59%), Oil & Natural Gas Corporation (0.57%) and Bharti Airtel (0.57%) were the major gainers in the Sensex.

Market breadth was negative with 557 advances against 805 declines.

Tata Consultancy Services topped the value chart on the BSE with a turnover of Rs. 400.66 million. It was followed by Dr Reddy'S Laboratories (Rs. 127.95 million), Strides Shasun (Rs. 98.62 million) and Spicejet (Rs. 88.62 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 Alok Industries (1.35 million), Reliance Communications (1.11 million) and Vakrangee (1.04 million).