Indian equities dropped  on Wednesday erasing earlier gains. At the close, the benchmark 30-share index, BSE Sensex lost 173.25 or 0.58% at 29,893.96 with 14 components posting drop.  Meanwhile, the broad based NSE Nifty went down by 43.45 or 0.49% at 8,748.75 with 26 components posting drop.

Tata Consultancy Services  (3.91%), I C I C I Bank  (2.18%), State Bank Of India (1.85%), Bharti Airtel  (1.80%), I T C  (1.60%),  and Infosys  (1.47%) were the major losers in the Sensex.

On the other hand, biggest gainers in the 30-share index were Vedanta  (5.40%), Sun Pharmaceutical Industries  (4.69%), NTPC  (4.41%), Indusind Bank  (3.83%), Bajaj Finance  (3.54%),  and Maruti Suzuki India  (3.25%).

Market breadth was negative with 1,358 advances against 767 declines.

Reliance Industries  topped the value chart on the BSE with a turnover of Rs. 1,278.43 million.  It was followed by Bajaj Finance  (Rs. 976.27 million), H D F C Bank  (Rs. 909.25 million) and State Bank Of India (Rs. 695.82 million).

The volume chart was led by Essar Steel  with trades of over 6.44 million shares.  It was followed by HDFC FMP - 3360 D - March 2014 (1) - Series 30 - Regular Plan - Quarterly Dividend (5.00 million), ICICI Prudential FMP - Series 82 - 1136 Days - Plan P - Regular Plan - Growth (4.58 million) and Tata Motors  (4.41 million).