The BSE benchmark Sensex dipped below the 17,000 level by losing over 169 points in early trade today on sustained selling by funds amid a weak trend on other Asian bourses.The 30-share barometer lost 169.35 points down to trade at 16,952.27 points with capital goods, realty and IT stocks leading the fall. The wide-based National Stock Exchange index Nifty declined by 42.65 points to 5,152.10 points.In Asia, the Hong Kong's Hang Seng index fell by 0.99 per cent, while Japan's Nikkei was down by 0.78 per cent higher in the early trade.