Indian markets dropped on Monday erasing earlier gains. At 9.43 a.m, the Sensex was trading down 109.82 points or 0.32% at 34,082.83 with 15 components falling. Meanwhile, the Nifty was trading lower by 26.70 points or 0.25% at 10,453.90 with 26 components falling.

Major losers in the 30-share index were Infosys (3.64%), Tata Motors (1.65%), Wipro (1.38%), Axis Bank (1.01%), Tata Power Company (0.91%), and Oil & Natural Gas Corporation (0.68%).

On the other hand, Cipla (1.80%), Mahindra & Mahindra (0.87%), Adani Ports and Special Economic Zone (0.84%), ITC (0.81%), Larsen & Toubro (0.69%), and Kotak Mahindra Bank (0.64%) were the biggest gainers in the Sensex.

Market breadth was negative with 628 advances against 849 declines.

Infosys topped the value chart on the BSE with a turnover of Rs. 225.00 million. It was followed by IDBI Bank (Rs. 57.23 million), Gruh Finance (Rs. 48.76 million) and Ashok Leyland (Rs. 39.50 million).

The volume chart was led by Uttam Value Steels with trades of over 1.95 million shares. It was followed by IDBI Bank (0.79 million), Aplaya Creations (0.72 million) and Sanwaria Consumer (0.70 million).