Indian equities dropped on Thursday erasing earlier gains. The Nifty was trading near life time high. At 10.17 a.m, the Sensex was trading down 64.69 points or 0.21% at 30,068.66 with 20 components falling. Meanwhile, the Nifty was trading lower by 8.05 points or 0.09% at 9,343.80 with 37 components falling.

Major losers in the 30-share index were Axis Bank (1.46%), ICICI Bank (1.03%), ITC (0.93%), Bharti Airtel (0.91%), Asian Paints (0.90%), and Reliance Industries (0.60%).

On the other hand, Tata Motors (1.73%), Hero Motocorp (1.27%), Infosys (0.88%), Cipla (0.85%), Dr Reddy'S Laboratories (0.51%), and Hindustan Unilever (0.44%) were the biggest gainers in the Sensex.

Market breadth was negative with 918 advances against 1,093 declines.

Adani Enterprises topped the value chart on the BSE with a turnover of Rs. 410.20 million. It was followed by Lakshmi Machine Works (Rs. 256.22 million), Spicejet (Rs. 185.84 million) and Balkrishna Industries (Rs. 122.83 million).

The volume chart was led by Adani Enterprises with trades of over 3.23 million shares. It was followed by Spicejet (1.73 million), Vikas Wsp (0.87 million) and Bajaj Hindusthan Sugar (0.30 million).