Indian equities dropped  on Monday erasing earlier gains. At the close, the benchmark 30-share index, BSE Sensex lost 2,002.27 or 5.94% at 31,715.35 with 26 components registering drop.  Meanwhile, the broad based NSE Nifty went down by 506.50 or 2.72% at 9,353.40 with 46 components registering drop.

I C I C I Bank  (10.96%), Bajaj Finance  (10.21%), Housing Development Finance Corporation  (10.08%), Tata Motors  (9.88%),  and Indusind Bank  (9.58%) were the biggest losers in the Sensex.

On the other hand, biggest gainers in the 30-share index were Bharti Airtel  (3.49%),  and Sun Pharmaceutical Industries  (0.04%).

Market breadth was negative with 576 advances against 1,607 declines.

Hindustan Unilever  topped the value chart on the BSE with a turnover of Rs. 468.26 million.  It was followed by Tech Mahindra  (Rs. 153.65 million), Infosys  (Rs. 136.65 million) and Glenmark Pharmaceutical  (Rs. 128.41 million).

The volume chart was led by Moh  with trades of over 6.45 million shares.  It was followed by Ashok Leyland  (0.88 million), Canara Bank (0.59 million) and Adani Power  (0.52 million).