Equity benchmark Sensex dropped over 130 points in early trade on Wednesday amid a subdued trend in global markets.
After opening on a positive note, the market turned choppy in early deals. The 30-share BSE index was trading 131.71 points or 0.22 per cent lower at 58,721.36 points.
Similarly, the broader NSE Nifty fell 37.45 points or 0.21 per cent to 17,487.65 points.
In the previous session on Monday, the BSE index ended 465.14 points or 0.80 per cent up at 58,853.07 points. Likewise, the broader NSE Nifty had advanced 127.60 points or 0.73 per cent to 17,525.10 points.
Equity markets were closed on Tuesday on account of 'Muharram'.
ALSO READ: Q1 FY23: OMCs bleed due to marketing losses
Elsewhere in Asia, stocks in Tokyo, Hong Kong, Shanghai and Seoul were trading in the red in mid-session deals.
Equities on Wall Street ended in the negative zone in the overnight session.
International oil benchmark Brent crude was trading 0.21 per cent lower at $96.11 per barrel.
Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth ₹1,449.70 crore on Monday, as per provisional exchange data.