Mumbai: Equity benchmark Sensex dropped in early trade on Wednesday. At 10: 15 am, the 30-share BSE index was trading over 238 points lower at 40,386, and the broader NSE Nifty fall 88 points to 11,846.
Benchmark indices extended early losses dragged by IT, metal and banking names. Wipro, Coal India, NTPC, ONGC and Tata Motors were among major losers on the Nifty.
Indian rupee opened flat at 73.35 per dollar on Wednesday against previous close of 73.34, amid selling seen in the domestic equity market.