Indian markets dropped on Monday erasing earlier gains. At 1.35 p.m, the Sensex was trading down 157.32 points or 0.53% at 29,491.67 with 18 components falling. Meanwhile, the Nifty was trading lower by 37.55 points or 0.41% at 9,122.50 with 29 components falling.
Major losers in the 30-share index were ICICI Bank (2.23%), Infosys (1.93%), Tata Consultancy Services (1.68%), Axis Bank (1.65%), Tata Steel (1.45%), and Reliance Industries (1.07%).
On the other hand, Tata Power Company (1.74%), NTPC (0.66%), Housing Development Finance Corporation (0.64%), Coal India (0.59%), H D F C Bank (0.56%), and Bharat Heavy Electricals (0.53%) were the biggest gainers in the Sensex.
Market breadth was negative with 1,187 advances against 1,344 declines.
Reliance Industries topped the value chart on the BSE with a turnover of Rs. 504,448.31 million. It was followed by Bombay Dyeing and Manufacturing Company (Rs. 3,967.42 million), Bombay Burmah Trdg Corporation (Rs. 3,369.15 million) and Magma Fincorp (Rs. 2,953.31 million).
The volume chart was led by Reliance Industries with trades of over 392.03 million shares. It was followed by Reliance Power (60.63 million), Bombay Dyeing and Manufacturing Company (53.18 million) and Magma Fincorp (28.45 million).