Mumbai, Jan 16 (IANS): A benchmark index for Indian equities markets Monday was ruling in the red Monday noon, with energy and banking scrips acting as a drag. Negative cues from Asian markets was also a dampner.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,086.74 points, was ruling at 16,078.39 points, 76.23 points or 0.47 percent down from its previous close at 16,154.62 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading in the negative at 4,839.25 points -- down 0.55 percent or 26.75 points from its previous close.

Broader markets were also in the red. The BSE 500 index was ruling 0.47 percent lower from its previous close.

The market breadth was negative with 1,152 stocks advancing, compared to 1,218 on the decline. Another 95 remained unchanged.

Prominent gainers on the Sensex included TCS, Infosys, Tata Power and Maruti Suzuki. Among the losers were L&T, RIL, HDFC Bank, and DLF.

Asian markets were also ruling in the red on fears that mass sovereign debt rating cuts by Standard & Poor's would further increasing funding difficulties for economies in the Euro zone and drag down global growth.

The Japanese Nikkei fell 1.43 percent and closed at 8,378.36 points, while Hong Kong's Hang Seng was 0.91 percent down at 19,030.22 points.

The Chinese Shanghai Composite index was also ruling 0.96 percent lower at 2,222.55 points.