Mumbai, Nov 15 (IANS): A benchmark index for Indian equities markets Tuesday fell sharply in afternoon trade and was ruling 216 points lower on widespread selling.

Negative cues from global bourses, which were doubtful of the ability of Eurozone leaders to come out of a debt crisis, also added to the woes of the markets.

The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 17,081.62 points, slipped to rule at 16,902.5 points, down 216.24 points or 1.26 percent from its previous close at 17,118.74 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also edged lower to rule 76.45 points or 1.48 percent lower at 5,071.9 points.

Broader markets were also ruling lower with the BSE 500 index down 1.73 percent. The BSE midcap index was trading 2.45 percent lower while the BSE smallcap index was ruling 2.56 percent down.

The market breadth at the BSE was negative with 581 stocks advancing and 2,194 scrips declining, while 101 remained unchanged.

There were only three gainers on the Sensex: Cipla, Tata Motors and HDFC Bank. Among the losing scrips were DLF, M&M, ICICI Bank and Tata Steel.

Asian markets were in the red, as a rise in Eurozone bond yields signalled doubts in investors about the ability of politicians in Italy and Greece to push through reforms to resolve their debt crises.

The Japanese Nikkei closed 0.72 percent down at 8,541.93 points, while Hong Kong's Hang Seng ended 0.82 percent lower at 19,348.44 points.

The Chinese Shanghai composite index closed flat at 2,529.76 points.

European markets too were in losses. Britain's FTSE was ruling 0.7 percent lower at 5,480.52 points, the German DAX was trading 1.51 percent down at 5,894.6 points.

The French CAC 40 was ruling 1.6 percent down at 3,059.32 points.