Indian equities dropped on Wednesday erasing earlier gains. At the close, the benchmark 30-share index, BSE Sensex lost 155.89 or 0.59% at 26,236.87 with 23 components posting drop. Meanwhile, the broad based NSE Nifty went down by 41.10 or 0.50% at 8,102.05 with 38 components posting drop.

Major losers in the 30-share index were Sun Pharmaceutical Industries (5.95%), Axis Bank (1.90%), HDFC Bank (1.51%), Tata Consultancy Services (1.39%), State Bank Of India (1.33%), and Tata Steel (1.25%).

On the other hand, Adani Ports and Special Economic Zone (2.44%), Housing Development Finance Corporation (1.95%), Hero Motocorp (1.31%), Tata Motors (1.02%), Mahindra & Mahindra (0.62%), and Dr Reddy'S Laboratories (0.03%) were the major gainers in the Sensex.

Market breadth was negative with 1,082 advances against 1,427 declines.

National Aluminium Company topped the value chart on the BSE with a turnover of Rs. 316.15 million. It was followed by Bajaj Finance (Rs. 61.25 million), Welspun India (Rs. 55.49 million) and Moschip Semiconductor Technology (Rs. 51.52 million).

The volume chart was led by National Aluminium Company with trades of over 4.56 million shares. It was followed by Birla Cotsyn (India) (1.12 million), Moschip Semiconductor Technology (0.89 million) and Vikas Ecotech (0.88 million).