Mumbai: The BSE benchmark Sensex fell by nearly 50 points in early trade on Wednesday as investors booked profits after two-session rally.

The 30-share index, which had rallied by over 484 points in the past two sessions, fell by 49.37 points, or 0.31 percent, to 15,889.99 points.

The wide-based National Stock Exchange Nifty Index shed 13.25 points, or 0.28 percent, to 4,752.05.

Brokers said profit-booking by participants at improved levels led to a fall in stock prices but firming trend on the other Asian bourses following overnight gains at the US market capped the losses.

Realty, auto, metals and banking stocks, which registered significant gains in recent rally, succumbed to profit-booking, dragging down the Sensex.

Meanwhile, among other Asian indices, Hong Kong's Hang Seng Index was up by 0.09 percent and Japan's Nikkei by 1.16 percent.

The US Dow Jones Industrial Average ended 1.47 percent higher on Tuesday.