Mumbai: The BSE benchmark Sensex declined by almost 166 points in early trade on November 8 as funds and retail investors preferred to book profits after six sessions of gains amid a weak trend in global markets. The 30-share barometer, which has surged by over 470 points in the last six sessions, fell by 165.96 points, or 0.87 percent, to 18,736.45.

Stocks of realty, power, banking and IT sectors declined due to profit-booking. Similarly, the wide-based National Stock Exchange index Nifty fell by 66.15 points, or 1.14 percent, to 5,693.95.

Brokers said besides profit-booking by speculators, a weak trend in Asian trade following overnight losses at the U.S. market on fears its economy is facing another huge economic crisis, spurring a sell-off, dampened the trading sentiments here.

In Asian region, Japan's Nikkei Index was down 1.64 percent, while Hong Kong's Hang Seng index shed 1.28 percent in early trade. The U.S. Dow Jones Industrial Average ended 2.36 percent down in November 7 trade.