Equity benchmark Sensex dropped over 185 points in early trade on Monday, tracking losses in index-heavyweights HDFC twins, ICICI Bank, SBI and Bajaj Finance.

The 30-share BSE index was trading 188.89 points or 0.36 per cent lower at 52,285.87 in initial deals. Similarly, the broader NSE Nifty fell 80.65 points or 0.51 per cent to 15,718.70.

Bajaj Finance was the top loser in the Sensex pack, shedding around 1.65 per cent, followed by NTPC, SBI, Kotak Bank, Bharti Airtel, Dr Reddy's and HDFC twins.

On the other hand, Infosys, Reliance, TCS, Bajaj Auto and ONGC were the gainers.

In the previous session, the 30-share BSE Sensex ended 174.29 points or 0.33 per cent up at its new closing high of 52,474.76. Similarly, the broader NSE Nifty advanced 61.60 points or 0.39 per cent to its lifetime peak of 15,799.35.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 18.64 crore on Friday, as per provisional exchange data.

Elsewhere in Asia, stocks in Tokyo were trading on a positive note in mid-session deals, while Seoul was in the red. Markets in China and Hong Kong were closed on Monday on account of a local holiday.

US equities finished mixed in the previous session.

International oil benchmark Brent crude was trading 0.45 per cent higher at USD 73.02 per barrel.