Following dismal trends in Asian markets, the Sensex and Nifty began trading on a muted tone on Wednesday and fell into the red after a two-day break.

The markets were also hurt by unchecked withdrawals of foreign funds. The 30-share BSE Sensex was trading at 52,060, down 471 points. NSE Nifty reached 15,483 after losing 155 points, during mid-session.

The top laggards in early trade from the Sensex pack included Bajaj Finserv, Tata Steel, Bajaj Finance, Axis Bank, IndusInd Bank, Tech Mahindra, and Bharti Airtel. Dr. Reddy's Laboratories, Maruti Suzuki India, and Hindustan Unilever, on the other hand, traded higher.

Internationally, Markets in Hong Kong, Seoul, Shanghai, and Tokyo were trading lower. Meanwhile, the benchmark Brent crude price fell by 3.20 percent to USD 110.98 per barrel.

According to exchange data, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Tuesday, selling shares worth Rs. 2,701.21 crore.

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