Mumbai: Equity benchmark indices fell in early trade on Wednesday after hitting their fresh record highs amid weak global market trends.

The 30-share BSE Sensex rose 129.72 points to a new all-time high of 80,481.36 in early trade. But, the benchmark soon retreated and fell 207.47 points to 80,144.17.

NSE Nifty also hit its new high of 24,461.05 in early deals but pared all gains and fell 49.6 points to 24,383.60.

Mahindra & Mahindra, JSW Steel, Kotak Mahindra Bank, Axis Bank, State Bank of India and ICICI Bank were the biggest laggards in the Sensex pack.

Maruti, Adani Ports, NTPC and Bharti Airtel were among the winners.

In Asian markets, Seoul, Tokyo and Shanghai declined while Hong Kong traded higher.

On Tuesday, American markets closed on a mixed note.

Global oil benchmark Brent crude fell 0.24 percent to US$84.46 per barrel.

According to exchange data, foreign institutional investors (FIIs) bought equities worth Rs 314.46 crore on Tuesday.

On Tuesday, the BSE benchmark closed at a new closing peak of 80,351.64, up 391.26 points or 0.49 per cent.

NSE Nifty rose 112.65 points or 0.46 per cent to 24,433.20 - its record high.