The domestic equity benchmark indices traded in the negative territory in the early deals on Wednesday  ahead of the Reserve Bank of India's monetary policy decision. The elevated crude oil prices and sustained foreign outflows dampened investor sentiment.

Market movement in initial trade

The 30-share BSE Sensex declined 429.81 points or 0.59 per cent at 72,638 in the early trade. The 50-share NSE Nifty slipped  158.05 points or 0.69 per cent at 22,618.25 in the initial trade.