New Delhi: Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday amid cautious investors approach ahead of the US Fed interest rate decision and selling in blue-chip stocks like Reliance Industries and HDFC Bank.

The 30-share BSE benchmark Sensex declined 350.98 points to 81,397.59 in early trade. The NSE Nifty went down 100.8 points to 24,567.45.

From the 30-share blue-chip pack, Reliance Industries, Bharti Airtel, Nestle, Larsen & Toubro, Bajaj Finserv, HDFC Bank, JSW Steel and Titan were among the laggards.

Tata Motors, Adani Ports, Tech Mahindra, HCL Technologies and Hindustan Unilever were the gainers.

"Globally markets will be looking forward to the FOMC (Federal Open Market Committee) outcome. Markets have already discounted a 25 bps rate cut and, therefore, the focus will be on the Fed chief’s commentary. Any departure from a dovish commentary will be negative from the market perspective. This is only a remote possibility," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 278.70 crore on Monday, according to exchange data.

The 30-share BSE benchmark declined 384.55 points or 0.47 percent to settle at 81,748.57 on Monday. The Nifty lost 100.05 points or 0.40 percent to 24,668.25.

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