Equity benchmark Sensex fell over 90 points in early trade on Wednesday, tracking tepid global cues ahead of the US Federal Reserve's policy outcome.

The 30-share BSE index was trading 90.5 points or 0.17 per cent lower at 52,682.55 in initial deals. Similarly, the broader NSE Nifty slipped 23.55 points or 0.15 per cent to 15,845.70.

PowerGrid was the top loser in the Sensex pack, shedding around 1 per cent, followed by Dr Reddy's, Titan, HDFC Bank, Asian Paints, Reliance Industries and Axis Bank.

On the other hand, ONGC, M&M, Bajaj Finserv, Hindustan Unilever, TCS and Infosys were among the gainers.

In the previous session, the BSE Sensex quoted higher by 221.52 points or 0.42 per cent at a new peak of 52,773.05. Likewise, the broader NSE Nifty rose 57.40 points or 0.36 per cent to settle at a fresh high of 15,869.25.

Elsewhere in Asia, bourses in Tokyo, Shanghai and Hong Kong were trading on a negative note in mid-session deals, while Seoul was trading with gains.

US equities finished lower in the previous session ahead of the outcome of the Fed policy meeting on Wednesday.

Foreign institutional investors (FIIs) emerged as net buyers in the capital market as they bought shares worth Rs 633.69 crore on Tuesday, as per provisional exchange data.

International oil benchmark Brent crude was trading 0.95 per cent higher at USD 74.69 per barrel.