Indian equities dropped on Thursday erasing earlier gains. At 9.32 a.m, the Sensex was trading down 112.65 points or 0.33% at 33,732.21 with 26 components falling. Meanwhile, the Nifty was trading lower by 51.85 points or 0.50% at 10,345.60 with 45 components falling.

Major losers in the 30-share index were Oil & Natural Gas Corporation (1.58%), Asian Paints (1.53%), Maruti Suzuki India (1.12%), Bharti Airtel (1.06%), Tata Motors (0.99%), and Mahindra & Mahindra (0.73%).

On the other hand, Sun Pharmaceutical Industries (0.94%), Tata Consultancy Services (0.74%), Wipro (0.39%), Infosys (0.29%), and Kotak Mahindra Bank (0.26%) were the major gainers in the Sensex.

Market breadth was negative with 423 advances against 991 declines.

Housing Development Finance Corporation topped the value chart on the BSE with a turnover of Rs. 2,064.47 million. It was followed by Bharti Infratel (Rs. 566.74 million), Crompton Greaves Consumer Electrical (Rs. 475.90 million) and R*Shares Liquid BeES (Rs. 126.45 million).

The volume chart was led by Electrosteel Steels with trades of over 3.15 million shares. It was followed by Crompton Greaves Consumer Electrical (2.03 million), Bharti Infratel (1.71 million) and Housing Development Finance Corporation (1.14 million).