Indian equities dropped on Thursday erasing earlier gains at the fag end due to profit booking seen in index pivotal stocks. IT, pharma, metal and banking stocks pulled the sentiment down.
At 15.14., the Sensex was trading down 196.48 points or 0.39% at 49,595.64 with 25 components falling. Meanwhile, the Nifty was trading lower by 41.85 points or 0.29% at 14,602.85 with 45 components falling.
Oil & Natural Gas Corporation contributed fall of 76.34 points in the Sensex. It was followed by State Bank Of India (63.68 points), Housing Development Finance Corporation (60.99 points), HDFC Bank (56.69 points) and Bharti Airtel (32.91 points).
However, Tata Motors contributed rise of 77.99 points in the Sensex. It was followed by Reliance Industries (70.22 points), Bajaj Auto (13.04 points), Hindustan Unilever (9.32 points) and ICICI Bank (4.31 points).
Biggest gainers in the 30-share index were Bajaj Finance (2.45%), Reliance Industries (1.65%), Bajaj Auto (1.64%), Bajaj Finserv (1.12%), and Hindustan Unilever (0.58%).
On the other hand, Tata Steel (3.79%), Oil & Natural Gas Corporation (3.49%), State Bank Of India (3.39%), Bharti Airtel (2.71%), and Indusind Bank (2.61%) were the biggest losers in the Sensex.
Market breadth was negative with 1,028 advances against 1,890 declines.