Equity benchmark Sensex tumbled over 200 points in early trade on January 24, tracking losses in major indices Wipro, Bajaj Finserv and Infosys amid a largely negative trend in global markets.
Besides, sustained outflow of foreign funds also put pressure on the domestic equity markets, traders said.
The BSE gauge was trading 233.53 points or 0.40% lower at 58,803.65 in early trade. Similarly, Nifty fell 73.70 points or 0.42% to 17,543.45.
Asian Paints was the top loser in the Sensex pack, falling 2.44%, followed by Tech Mahindra, Wipro, Bajaj Finserv, Infosys, HCL Tech and Bajaj Finance.
On the other hand, PowerGrid, Maruti, ICICI Bank, Reliance Industries and Bharti Airtel were among the gainers.
The 30-share index had closed 427.44 points or 0.72% lower at 59,037.18 in the previous session. Similarly, the broader NSE Nifty fell 139.85 points, or 0.79%, to 17,617.15.
Elsewhere in Asia, shares in Hong Kong, Seoul and Tokyo were trading with losses in mid-session deals, while Shanghai was in the green.
Stock exchanges in the US ended the overnight session on January 21 with significant losses.
Meanwhile, international oil benchmark Brent crude rose 0.92% to $88.70 a barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 3,148.58 crore on January 21, according to stock exchange data.
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