Mumbai: The BSE benchmark Sensex on Wednesday declined nearly 118 points in early trade on sustained selling by funds and retailers amid a weak trend on Asian bourses.

The 30-share barometer, which had lost almost 364 points in last two trading days, moved down further by 117.83 points, or 0.69 percent, to 17,055.46 in opening trade.

On the similar lines, the broad-based National Stock Exchange index Nifty declined by 37.20 points, or 0.71 percent, to 5,185.20.

All sectoral indices were trading in negative zone with losses upto 1.40 percent.

Brokers said sustained selling by funds and retailers amid a weakening trend on Asian bourses in line with overnight fall in the US market mainly dampened the trading sentiment.

In the Asia region, Hong Kong's Hang Seng index fell by 1.23 percent and Japan's Nikkei index by 1.33 percent in morning trade today. The US Dow Jones Industrial Average ended 1.57 percent lower on Tuesday's trade.