The equity markets opened in deep red on Wednesday amid global cues slumped and rising crude oil prices.
The BSE Sensex fell 500 points to 52,676, while the NSE Nifty was down 140 points to 15,708.
All stocks in the 30-share index were in red in the early hours with IndusInd Bank, HUL, Wipro, Bajaj twins, among the major losers.
In the broader markets, the BSE MidCap and SmallCap indices also opened in the negative territory, down up to 0.94 per cent.
Sectorally, Nifty bank, IT, metals, PSBs, financials were all down up to 1 per cent each.
Meanwhile, the rupee hit a fresh record low of 78.87/$ soon after opening in early trade.
The Asian stocks fell on Wednesday morning amid concerns over recession, inflation and high oil prices.
Japan's Nikkei index fell 1.01% in early trading, while MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1%, dragged lower by Australian shares, off 1.29%, and Korea's KOSPI, down 1.57%.