Indian markets dropped on Tuesday erasing earlier gains. At 10.23 a.m, the Sensex was trading down 23.57 points or 0.08% at 28,638.01 with 16 components falling. Meanwhile, the Nifty was trading higher by 11.10 points or 0.13% at 8,890.30 with 26 components gaining.

Biggest losers in the 30-share index were Bharti Airtel (2.09%), ITC (1.45%), Coal India (0.78%), Cipla (0.62%), Maruti Suzuki India (0.62%), and HDFC Bank (0.37%).

On the other hand, Tata Steel (1.41%), Bharat Heavy Electricals (1.30%), Asian Paints (1.04%), Tata Motors (0.99%), GAIL (India) (0.76%), and Adani Ports and Special Economic Zone (0.73%) were the biggest gainers in the Sensex.

Market breadth was positive with 1,244 advances against 701 declines.

Dr Reddy'S Laboratories topped the value chart on the BSE with a turnover of Rs. 751.68 million. It was followed by Max Financial Services (Rs. 566.86 million), Jindal Steel & Power (Rs. 356.34 million) and Spicejet (Rs. 326.01 million).

The volume chart was led by Spicejet with trades of over 4.84 million shares. It was followed by Jindal Steel & Power (3.30 million), Marksans Pharma (2.88 million) and Jaiprakash Associates (2.61 million).