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Re negotiating salary package after accepting offer

 
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Hi

I had accepted an offer in haste in a company x. the company is good and worth joining. In the mean time I had got another offer from another company Y which will pay more than what I have accepted from company X. Company Y has more reputation in market, but due to some personal reasons, I still want to go with X. I had come to know that the salary I had accepted was well below market standard now and I would like to know if I can negotiate with company X on it.
I would also want to know which is a better way to do it, and what would be future implications if I do that and if at all they agree rto it.

Its a little urgent since my joining date is in a week's time and I would be grateful for any suggestions at the earliest

Thank You
Sridhar
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