New Delhi: Markets opened in the negative zone on Wednesday tracking weak global trends.

The BSE Sensex fell 153.47 points or 0.40 percent to 38,211.88 in early trade while the NSE Nifty slipped 52.40 points or 0.46 percent to 11,264.95.

Major losers in the Sensex pack were ONGC, SBI, Tata Steel, ITC, Bajaj Finserve, Bajaj Finance, ICICI Bank, Axis Bank, NTPC, Bajaj auto, IndusInd Bank, and HCL Tech, falling upto 3.69 percent. On the other hand, major gainers were Asian Paint, RIL, M&M, TCS, Titan, Bharti Airtel and Infosys, rising upto 1.18 percent.

In the previous session on Tuesday, the 30-share BSE index ended 51.88 points or 0.14 per cent lower at 38,365.35 while the broader NSE Nifty slipped 37.70 points or 0.33 per cent to 11,317.35.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan slid 1.12%. Australian stocks dropped 2.24%, while shares in China fell 1.16%. Japan`s Nikkei skidded by 1.69%. US S&P 500 E-mini stock futures fell 0.01%, but Nasdaq futures rose 0.72%, a Reuters report said.

Oil futures extended their sharp decline in Asian trading to the lowest levels since June due to concern about weak global energy demand and excess supply. Brent fell 0.53% to $39.57 a barrel, while U.S. crude lost 0.68% to trade at $36.51 per barrel, Reuters added.