The Bombay Stock Exchange benchmark Sensex opened lower by 120 points on Wednesday as investors sold stocks amid a weakening global trend.
The 30-share index, which lost 126.86 points in the previous session, fell further by 120.50 points, or 0.67 per cent, to 17,629.19 points in the first five minutes of trading.
Similarly, the wide-based National Stock Exchange index Nifty declined by 11.65 points, or 0.22 per cent, to 5,304.90 points at the same time.
Marketmen said investors and foreign funds were squaring up their pending positions ahead of settlement in derivatives segment on Thursday.
They said weak trend in overseas markets further fuelled the downtrend.
Among major losers, Larsen and Toubro fell by 1.49 per cent to Rs 1,794.00, Sterlite Industries by 0.59 per cent to Rs 177.70, Hindalco Industries by 0.33 per cent to Rs 150.85, DLF Ltd by 1.06 per cent to Rs 284.80 and Jaiprakash Associate by one per cent to Rs 129.10.
Japan's Nikkei traded lower by 1.43 per cent while Hong Kong's Hang Seng index by 0.42 per cent in early trade.