Indian equities ended lower on Monday erasing earlier gains. At the close, the benchmark 30-share index, BSE Sensex lost 467.65 or 1.22% at 37,922.17 with 26 components posting drop. Meanwhile, the broad based NSE Nifty went down by 151 or 1.30% at 11,438.60 with 46 components registering drop.

Major losers in the 30-share index were Sun Pharmaceutical Industries (3.72%), Mahindra & Mahindra (3.44%), State Bank Of India (2.35%), and Housing Development Finance Corporation (2.14%).

On the other hand, Axis Bank (0.99%), Wipro (0.26%), and Tata Consultancy Services (0.07%) were the biggest gainers in the Sensex.

Market breadth was negative with 951 advances against 1,510 declines.

Housing Development Finance Corporation topped the value chart on the BSE with a turnover of Rs. 3,457.99 million. It was followed by Yes Bank (Rs. 988.53 million), Edelweiss Financial Services (Rs. 909.34 million) and Hindustan Unilever (Rs. 710.42 million).

The volume chart was led by Reliance Communications with trades of over 5.22 million shares. It was followed by Edelweiss Financial Services (3.54 million), Uttam Galva Steels (3.21 million) and Yes Bank (3.05 million).