Indian markets dropped  on Thursday erasing earlier gains. At 12.59., the Sensex was trading down 2,270.28 points or 6.36% at 33,427.12 with 29 components falling.  Meanwhile, the Nifty was trading lower by 701 points or 6.70% at 9757.40 with 50 components falling.

Yes Bank  (12.33%), Axis Bank  (10.34%), Vedanta  (8.80%), State Bank Of India (8.69%), I T C  (8.28%),  and Hero Motocorp  (8.04%) were the major losers in the Sensex.

On the other hand, biggest gainer in the 30-share index were  and Tata Power Company  (3.82%).

Market breadth was negative with 168 advances against 1,850 declines.

Future Retail  topped the value chart on the BSE with a turnover of Rs. 10.87 million.  It was followed by Pricol  (Rs. 10.39 million), Automobile Corporation Of Goa  (Rs. 10.19 million) and B F Utilities  (Rs. 6.79 million).

The volume chart was led by Sanwaria Consumer  with trades of over 0.53 million shares.  It was followed by Pricol  (0.31 million), Tata Teleservices (Maharashtra)  (0.27 million) and Punj Lloyd  (0.16 million).