Markets continue to trade weak; Sensex falls nearly 484 points in early trade

The NSE Nifty went lower by 137.95 points

Equity indices began the trade on a bearish note on Thursday, mirroring weak global market trends after the U.S. Fed's interest rate hike.

The 30-share BSE Sensex fell 483.71 points to 58,973.07 in the initial trade. The NSE Nifty went lower by 137.95 points to 17,580.40.

Among the 30-share Sensex pack, Bajaj Finserv, HDFC, Wipro, HDFC Bank, Tech Mahindra, HCL Technologies, Power Grid and ICICI Bank were the major laggards.

ITC, Maruti, IndusInd Bank and Hindustan Unilever were among the gainers in early trade.

Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended in the negative territory on Wednesday.

"While the Fed’s 75 basis points rate hike and reiteration of the hawkish message were on expected lines, indicating that the terminal rate is likely to be 4.6% was higher than market expectations," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.