The Sensex fell more than 200 points in early trade on Wednesday, mirroring losses in index heavyweights TCS, Bajaj Finance, and Axis Bank as market players booked profits at higher levels. In early trade, Sensex was down 209.46 points, or 0.34 percent, at 61,506.59. Likewise, the Nifty fell 85.45 points, or 0.46 percent, to 18,333.30.

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Bajaj Finance was the Sensex pack’s biggest loss, losing about 2%, followed by IndusInd Bank, Bajaj Finserv, Bajaj Auto, Tata Steel, and Axis Bank. On the other hand, Nestle India, HUL, Bharti Airtel, Asian Paints, and HCL Tech were among the winners.

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In the previous session, the 30-share index fell 49.54 points, or 0.08 percent, to 61,716.05, while the Nifty fell 58.30 points, or 0.32 percent, to 18,418.75. According to exchange statistics, foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday, offloading shares worth Rs 505.79 crore. According to market analysts, investors are recording profits at every high, increasing market volatility.

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Elsewhere in Asia, bourses in Hong Kong, Shanghai, and Tokyo were up in mid-session trade, while Seoul was down. Wall Street stock markets concluded the overnight session on a high note as well.

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Meanwhile, the international oil benchmark Brent crude dropped 0.5% to USD 84.64 a barrel. Rupee surges 26 paise to 75.09 against US dollar in early trade.