Indian equities dropped on Tuesday erasing earlier gains. At 9.29 a.m, the Sensex was trading down 89.82 points or 0.27% at 33,365.97 with 19 components falling. Meanwhile, the Nifty was trading lower by 31.30 points or 0.30% at 10,290.95 with 35 components falling.

Biggest losers in the 30-share index were Asian Paints (1.93%), Tata Power Company (1.34%), Bharti Airtel (0.98%), HDFC Bank (0.88%), Kotak Mahindra Bank (0.84%), and ITC (0.79%).

On the other hand, Dr Reddy'S Laboratories (4.13%), Oil & Natural Gas Corporation (1.96%), Adani Ports and Special Economic Zone (0.78%), Tata Steel (0.77%), Reliance Industries (0.61%), and Tata Motors (0.60%) were the biggest gainers in the Sensex.

Market breadth was negative with 632 advances against 832 declines.

Max Financial Services topped the value chart on the BSE with a turnover of Rs. 404.26 million. It was followed by Dr Reddy'S Laboratories (Rs. 79.64 million), Bombay Dyeing and Manufacturing Company (Rs. 45.32 million) and Vedanta (Rs. 31.43 million).

The volume chart was led by Max Financial Services with trades of over 0.72 million shares. It was followed by Bombay Dyeing and Manufacturing Company (0.19 million), Spicejet (0.18 million) and Jain Irrigation Systems (0.18 million).