Indian markets dropped on Monday erasing earlier gains. At 12.18 p.m, the Sensex was trading down 130.89 points or 0.44% at 29,518.10 with 18 components falling. Meanwhile, the Nifty was trading lower by 35.15 points or 0.38% at 9,124.90 with 30 components falling.
Biggest losers in the 30-share index were ICICI Bank (2.15%), Infosys (1.94%), Tata Steel (1.70%), Tata Consultancy Services (1.54%), Axis Bank (1.32%), and Wipro (1.13%).
On the other hand, Tata Power Company (1.57%), Housing Development Finance Corporation (0.83%), HDFC Bank (0.82%), Bharat Heavy Electricals (0.59%), NTPC (0.59%), and Bajaj Auto (0.38%) were the major gainers in the Sensex.
Market breadth was negative with 1,159 advances against 1,255 declines.
Reliance Industries topped the value chart on the BSE with a turnover of Rs. 507,248.21 million. It was followed by Bombay Dyeing and Manufacturing Company (Rs. 3,954.83 million), Bombay Burmah Trdg Corporation (Rs. 3,370.56 million) and Magma Fincorp (Rs. 2,948.91 million).
The volume chart was led by Reliance Industries with trades of over 392.00 million shares. It was followed by Reliance Power (60.59 million), Bombay Dyeing and Manufacturing Company (52.98 million) and Magma Fincorp (28.44 million).