Mumbai, Sep 12 (IANS): Negative global cues and a slowdown in domestic industrial output pulled a benchmark index for the Indian equities markets Monday down by over 446 points in the afternoon.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,668.25 points, was ruling at 16,420.31 points, down 446.66 points or 2.65 percent from its previous close at 16,866.97 points.

Dampened by a sharp fall in capital goods production, India's factory output grew at a sluggish 3.3 percent in July compared to a year earlier, much slower than expectations and sharply below the 8.8 percent growth registered in the previous month.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too followed a similar trajectory and was trading 2.72 percent down at 4,921.8 points.

Broader markets were in the red too. The BSE midcap index was down 1.98 percent, while the BSE small cap index was ruling 2.1 percent lower.

The market breadth was negative with 625 stocks advancing, compared to 1,938 on the decline and 77 remaining unchanged.

All 13 sectoral indices on the BSE were in the red. Metals, consumer durables, IT and telecom scrips were among the biggest losers at this time.

Global markets were witnessing a sell-off over concerns of another debt default by Greece.

Asian markets fell sharply with Japan's Nikkei closing 2.31 percent lower at 8,535.67 points and Hong Kong's Hang Seng index was also trading 4.08 percent lower at 19,056.64 points.

Chinese markets were closed on account of a holiday.

European bourses too opened in the red.