Mumbai, Nov 29 (IANS): A benchmark index for Indian equities was ruling lacklustre around noon Tuesday, with traders taking a breather after a 471 point rally in the previous session.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,210.37 points, was ruling at 16,132.4 points around 12.25 p.m., 34.73 points or 0.23 percent down from its previous close at 16,167.13 points.

It had climbed up from an intra-day low of 15,995.57 points. The benchmark closed Monday 471 points higher, regaining the 16,000-level after a gap of three days.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lower at 4,842.95 points, down 0.17 percent or 8.35 points from its previous close.

Broader markets were subdued with the BSE 500 index trading flat.

Oil and gas, telecom and IT stocks saw some amount of profit booking after Monday's rise. Healthcare and auto stocks, however, saw some gains.

The market breadth was positive, with 1,275 stocks advancing and 1,109 on the decline. Another 122 were unchanged.

Among gainers on the 30-scrip Sensex were: Tata Steel, M&M, Hindustan Unilever and BHEL. Losers included Bharti Airtel, RIL, Infosys and Tata Power.

Asian markets rose Tuesday amid reports that European policymakers were looking at radical steps to get the Euro zone out of the debt crisis. Among some of the steps that are apparently being considered is that countries cede control of their respective budgets to a central European authority.

The Japanese Nikkei closed 2.3 percent higher at 8,477.82 points. Hong Kong's Hang Seng was ruling 1.71 percent up at 18,346.88 points.

The Chinese Shanghai composite index was trading 1.61 percent higher at 2,410.67 points.