The Sensex was trading lower by 106 points, while the Nifty shed 34 points in early trade. Among top losers in trade today were Jindal Steel, ICICI Bank Siemens, Tata Motors and Gail.
Tata Motors reported slide in passenger sales to record low in the Month of February. Shares were trading down by 1.53%.
Repco Home Finance initial public offering (IPO) opens today. The price band is Rs165-172 per equity share of face value Rs10 each. The company have plans to raise Rs 270 crore via IPO
Among the early gainers in trade were Bharti Airtel, ITC, Power Grid, Sun Pharmaceuticals and Hindustan Unilever.
Among BSE sectoral indices only FMCG was seen in positive terrain. The badly hit sector was Consumer Durables followed by Bankex, Auto and IT.
Meanwhile, in the Asian region, Japan's Nikkei Index was down by 0.51 percent, while Hong Kong's Hang Seng index 0.84 percent in early trade Wednesday.
The US Dow Jones Industrial Average ended 0.02 percent higher on Tuesday.