Indian equities dropped on Thursday erasing earlier gains. Both Sensex and Nifty were trading below 6-month low. At 9.37 a.m, the Sensex was trading down 921.11 points or 2.65% at 33,839.78 with 28 components falling. Meanwhile, the Nifty was trading lower by 266.90 points or 2.55% at 10,193.20 with 50 components falling.

Biggest losers in the 30-share index were Axis Bank (4.21%), Tata Steel (4.12%), Infosys (4.04%), State Bank Of India (3.99%), Maruti Suzuki India (3.58%), and Bharti Airtel (3.38%).

On the other hand, Oil & Natural Gas Corporation (1.41%) were the only gainers in the Sensex.

Market breadth was negative with 188 advances against 1,222 declines.

Dewan Housing Finance Corporation topped the value chart on the BSE with a turnover of Rs. 226.15 million. It was followed by Tata Consultancy Services (Rs. 193.70 million), Bajaj Finance (Rs. 186.84 million) and Yes Bank (Rs. 158.68 million).

The volume chart was led by South Indian Bank , The with trades of over 2.55 million shares. It was followed by Adani Power (1.45 million), Jaiprakash Associates (1.39 million) and Balrampur Chini Mills (0.92 million).