Stock markets opened lower on Wednesday tracking weak global cues and a negative signal from GIFT Nifty.
The BSE Sensex opened at 72,621.59, falling 446.22 points, or 0.61%, from its previous close of 73,067.81.
The NSE Nifty 50 opened at 22,615, down 161.10 points, or 0.71%, from its previous close of 22,776.10.
The weak opening came a day after benchmark indices extended their gains for a second consecutive session. The Sensex had jumped 685.34 points, or 0.95%, on Tuesday, while the Nifty gained 220.35 points, or 0.98%.
Why are Sensex, Nifty falling today?
GIFT Nifty was trading around 22,760.50 before the market opened, down nearly 35 points from the Nifty futures' previous close, signalling a cautious start for Indian equities.
Asian markets opened mixed to lower on Wednesday. South Korea's Kospi fell 1.11% at the opening, while Japan's Nikkei was largely unchanged and Taiwan's TAIEX gained 0.23%.
Meanwhile, US markets ended higher on Tuesday, with the S&P 500 hitting a fresh record and the Nasdaq extending its record-setting streak.
Investors will also remain focused on the Reserve Bank of India's monetary policy decision due later on Wednesday.
{{/usCountry}}Investors will also remain focused on the Reserve Bank of India's monetary policy decision due later on Wednesday.
{{/usCountry}}On Tuesday, falling crude oil prices provided support to Indian equities, with Brent crude settling at $98.59 a barrel.