Indian markets dropped  on Thursday erasing earlier gains.  At 11.18., the Sensex was trading down 2.05 points or 0.01% at 35,545.28 with 14 components falling.  Meanwhile, the Nifty was trading lower by 6.00 points or 0.06% at 10,766.05 with 27 components falling. 

Power Grid Corporation of India (2.13%), Oil & Natural Gas Corporation (1.72%) and Axis Bank (0.90%) were the major losers in the Sensex.

On the other hand, biggest gainers in the 30-share index were ICICI Bank (1.45%), Adani Ports & Special Economic Zone (1.38%) and Reliance Industries (1.13%).

Market breadth was negative with 848 advances against 1,088 declines.

Reliance Industries  topped the value chart on the BSE with a turnover of Rs. 146.87 million.  It was followed by Dr Reddy'S Laboratories  (Rs. 120.22 million), H D F C Bank  (Rs. 74.36 million) and Vedanta  (Rs. 71.72 million).

The volume chart was led by Himachal Futuristic Communications  with trades of over 1.13 million shares.  It was followed by CG Power and Industrial Solutions  (0.62 million), Steel Authority Of India  (0.60 million) and Ruchi Soya Industries  (0.55 million).