Mumbai, Oct. 28 -- Indian equity markets opened sharply lower on Wednesday, with the Sensex falling nearly 700 points and the Nifty slipping below 22,600, as rising crude oil prices and persistent foreign portfolio investor (FPI) selling weighed on sentiment, according to market experts.

The cautious opening came despite gains on Wall Street and across major Asian markets, with investors also tracking geopolitical risks and the Federal Reserve's policy meeting. Brent crude was trading at USD 115.39 per barrel, up 1.32 per cent, while crude oil rose 1.44 per cent to USD 101.34.

At the opening, the BSE Sensex stood at 72,907.65, down 691.02 points or 0.94 per cent from its previous close of 73,598.67. It opened at 73,253.44. The NSE Nifty...