The BSE benchmark Sensex was down by 68 points in early trade on Wednesday on fresh selling by funds and retail investors in realty, IT and capital goods stocks on the back of weak Asian cues.
The key benchmark indices edged lower in early trade on weak Asian stocks. Index heavyweight Reliance Industries (RIL) also lost ground as the BSE Sensex hit a nine-week low below the psychological 18,000-mark.
The BSE benchmark Sensex resumed lower at 17,976.36 and dropped further to 17,905.29 before quoting at 17,943.89 at 1015 hours, showing a loss of 68.08 points, or 0.38 per cent, from its last close.
The National Stock Exchange’s 50-share Nifty index also moved down by 17.95 points, or 0.33 per cent, to 5,376.90 at 1015 hours from its last close.
Realty major DLF slumped to a 52-week low after posting poor Q4 results. Other realty stocks also declined and index heavyweight Infosys also fell.
The major losers in early trade were DLF (down 3.81 per cent), Bharti Airtel (1.49 per cent), Tata Power (1.28 per cent),Infosys (1.16 per cent), L&T (1.12 per cent) and RCom (0.97 per cent).
Asian stocks fell in early trade as investors continued to worry about the euro zone debt crisis and a slowdown in the US economy.
The key benchmark indices in Hong Kong, Indonesia, China, Japan, Singapore, South Korea and Taiwan fell by between 0.24 per cent and 0.69 per cent.
Trading in US index futures indicated that the Dow could fall 65 points at the opening bell today.