Continuing its losing streak for the fifth straight session on Tuesday, the Bombay Stock Exchange benchmark Sensex lost 164 points in early trade on heavy selling by funds in index-related stocks.
The 30-share index, which fell by over 858 points in the past four sessions, plunged by 164.53 points to 14,481.13.
Similarly, the National Stock Exchange's benchmark Nifty dropped by 49.05 points at 4,344.
Stock brokers said weakening trend in global markets mainly dampened the trading sentiments on the domestic bourses.
Major stocks which dragged the Sensex down were Reliance Industries, Reliance Infra, Rcom, BHEL, Larsen and Toubro, HDFC Ltd, HDFC Bank, ICICI Bank, State Bank of India, ONGC, Bharti Airtel, Tata Power, Tata Motors, Sterlite Industries, Mahindra and Mahindra, ACC and DLF Ltd.
Meanwhile, Hong Kong's Hang Seng Index fell 1.0 per cent in early trade, tracking Wall Street's tumble overnight and extended weakness.