Mumbai : The BSE benchmark Sensex fell sharply by over 252 points in the opening trade on Wednesday on fresh selling by foreign funds and retail investors, taking cues from weak Asian markets.

The 30-share barometer, which gained nearly 112 points in the previous sessions, fell by 252.07 points, or 1.54 percent, to 16,076.18.

Stocks of auto, realty, banking, capital goods and metal sectors were under pressure, dragging down the Sensex.

Similarly, the wide-based National Stock Exchange Nifty index slid by 75.05 points, or 1.51 percent, to 4,867.75 points.

Market experts said sentiments turned bearish largely on subdued trend on the other Asian bourses and profit-taking by speculators after previous sessions of gains.

In the Asian region, the Hong Kong’s Hang Seng index shed 2.46 percent and the Japan’s Nikkei was trading 1.28 percent down on Wednesday morning.

In the US, the Dow Jones Industrial Average ended 0.50 percent lower in the previous session.