Equity benchmark Sensex dropped over 250 points in early trade on Wednesday, tracking losses in index majors HDFC twins, Reliance Industries and Infosys amid a negative trend in global markets. The 30-share BSE index was trading 259.75 points or 0.49 per cent lower at 52,319.01 in initial deals, while the broader NSE Nifty fell 77.15 points or 0.49 per cent to 15,669.30. Nestle India was the top loser in the Sensex pack, shedding over 1 per cent, followed by Dr Reddy’s, HDFC twins, Axis Bank, Kotak Bank, TCS, Reliance Industries and Infosys.

On the other hand, IndusInd Bank, Bharti Airtel, Tata Steel and HUL were among the gainers. In the previous session, Sensex ended 273.51 points or 0.52 per cent lower at 52,578.76, and Nifty fell 78 points or 0.49 per cent to 15,746.45. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,459.08 crore on Tuesday, as per provisional exchange data. According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, there is a mild risk-off sentiment in equity markets globally as reflected in the rising dollar.