Indian markets continued to drop for the second day on Wednesday. At 10.31 a.m, the Sensex was trading down 69.50 points or 0.22% at 31,228.03 with 23 components falling. Meanwhile, the Nifty was trading lower by 33.70 points or 0.35% at 9,619.80 with 37 components falling.

Biggest losers in the 30-share index were Oil & Natural Gas Corporation (2.02%), Cipla (1.63%), Tata Consultancy Services (1.35%), Tata Motors (1.28%), GAIL (India) (1.02%), and Hero Motocorp (0.87%).

On the other hand, Larsen & Toubro (1.05%), State Bank Of India (0.67%), Reliance Industries (0.55%), Bharat Heavy Electricals (0.40%), Hindustan Unilever (0.36%), and Bharti Airtel (0.27%) were the major gainers in the Sensex.

Market breadth was negative with 960 advances against 907 declines.

Larsen & Toubro topped the value chart on the BSE with a turnover of Rs. 42,213.35 million. It was followed by Reliance Industries (Rs. 788.05 million), State Bank Of India (Rs. 536.18 million) and IRB InvIT Fund (Rs. 493.31 million).

The volume chart was led by Larsen & Toubro with trades of over 23.86 million shares. It was followed by IRB InvIT Fund (5.00 million), Jaiprakash Associates (2.73 million) and Spicejet (2.29 million).