Mumbai, Nov 16 (IANS): A benchmark index for Indian equities markets Wednesday continued to trade in the red in the afternoon amid negative cues from other Asian bourses. Capital goods, power and energy stocks were among the major losers at this time.

The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 16,872.3 points, was ruling around 12.45 p.m. at 16,712.47 points, down 170.2 points or 1.01 percent from its previous close at 16,882.67 points.

The Sensex had touched a high of 16,872.30 points and fell to a low of 16,644.85 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red, 61.9 points or 1.22 percent lower at 5,006.6 points.

Broader markets were also ruling lower with the BSE 500 index down 1.23 percent. The BSE midcap index was trading 1.52 percent lower while the BSE smallcap index was ruling 1.81 percent down.

The market breadth at the BSE was negative with 559 stocks advancing and 2,039 scrips declining, while 93 remained unchanged.

There were only three gainers on the Sensex: M&M, ONGC, Cipla and SBI. Among the losing scrips on the benchmark were BHEL, L&T, Hero MotoCorp and RIL.

Asian markets stocks were ruling were in the red, as debt woes of Italy came back into the limelight as concerns grew over the European nation's ability to pay off its massive debts.

The fall came despite a modest rise in the US markets, helped by data which showed retail spending increasing for the fifth straight month.

The Japanese Nikkei closed 0.92 percent down at 8,463.16 points, while Hong Kong's Hang Seng was ruling 2.83 percent lower at 18,801.75 points.

The Chinese Shanghai composite index closed 2.75 percent down at 2,460.19 points.