Indian markets dropped on Tuesday erasing earlier gains. Both Sensex and Nifty were trading near life time high. At 9.49 a.m, the Sensex was trading down 21.69 points or 0.06% at 38,257.06 with 17 components falling. Meanwhile, the Nifty was trading lower by 4.10 points or 0.04% at 11,547.65 with 34 components falling.

Biggest losers in the 30-share index were Tata Steel (0.95%), State Bank Of India (0.85%), ICICI Bank (0.83%), Bharti Airtel (0.76%), and Oil & Natural Gas Corporation (0.71%).

On the other hand, Coal India (1.34%), Wipro (0.95%), Asian Paints (0.93%), Bajaj Auto (0.76%), HDFC Bank (0.68%), and Hero Motocorp (0.57%) were the biggest gainers in the Sensex.

Market breadth was negative with 785 advances against 758 declines.

Thomas Cook (India) topped the value chart on the BSE with a turnover of Rs. 280.93 million. It was followed by Godrej Consumer Products (Rs. 163.99 million), Adani Enterprises (Rs. 138.57 million) and Larsen & Toubro (Rs. 99.84 million).

The volume chart was led by Hindustan Construction Company with trades of over 3.11 million shares. It was followed by Reliance Communications (2.38 million), PMC Fincorp (1.54 million) and Thomas Cook (India) (1.14 million).