Indian equities dropped on Tuesday erasing earlier gains. At 11.32 a.m, the Sensex was trading down 43.77 points or 0.15% at 28,617.81 with 17 components falling. Meanwhile, the Nifty was trading lower by 10.15 points or 0.11% at 8,869.05 with 29 components falling.

Major losers in the 30-share index were Bharti Airtel (2.33%), ITC (1.32%), Coal India (0.86%), Mahindra & Mahindra (0.59%), Tata Consultancy Services (0.58%), and Maruti Suzuki India (0.51%).

On the other hand, Axis Bank (1.14%), Hindustan Unilever (1.09%), Asian Paints (0.99%), Bharat Heavy Electricals (0.85%), Tata Motors (0.71%), and GAIL (India) (0.62%) were the major gainers in the Sensex.

Market breadth was negative with 1,234 advances against 982 declines.

Dr Reddy'S Laboratories topped the value chart on the BSE with a turnover of Rs. 771.28 million. It was followed by Max Financial Services (Rs. 637.64 million), Jindal Steel & Power (Rs. 561.51 million) and Spicejet (Rs. 421.97 million).

The volume chart was led by Spicejet with trades of over 6.22 million shares. It was followed by Jindal Steel & Power (5.19 million), Jaiprakash Associates (3.95 million) and Marksans Pharma (3.50 million).