The SENSEX Index dropped 264 points or 0.34 percent on Wednesday to close at 77890 points. Losses were led by Tata Consultancy (-4.36%), Tata Steel (-1.73%) and Tata Motors (-1.61%). Offsetting the fall, top gainers were Indusind Bank (1.36%), UltraTech Cement (0.47%) and Power Grid (0.39%).