Indian equities dropped on Monday erasing earlier gains. At 9.54 a.m, the Sensex was trading down 39.00 points or 0.12% at 33,275.56 with 18 components falling. Meanwhile, the Nifty was trading lower by 19.75 points or 0.19% at 10,302.00 with 30 components falling.

Major losers in the 30-share index were Tata Motors (3.68%), Coal India (2.70%), Housing Development Finance Corporation (2.53%), Adani Ports and Special Economic Zone (2.33%), Sun Pharmaceutical Industries (2.09%), and Oil & Natural Gas Corporation (2.08%).

On the other hand, State Bank Of India (9.50%), Mahindra & Mahindra (4.56%), Hindustan Unilever (3.97%), ICICI Bank (2.33%), Axis Bank (2.29%), and Bajaj Auto (1.46%) were the major gainers in the Sensex

Market breadth was negative with 844 advances against 946 declines.

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 320.23 million. It was followed by Rain Industries (Rs. 215.29 million), Larsen & Toubro (Rs. 137.41 million) and U P L (Rs. 109.56 million).

The volume chart was led by State Bank Of India with trades of over 0.93 million shares. It was followed by Alok Industries (0.81 million), Ashok Leyland (0.70 million) and Jain Irrigation Systems (0.68 million).