Mumbai, Aug 24 (IANS): A benchmark index for Indian equities markets Wednesday, which started on a subdued note, fell in opening trade amid negative cues from other Asian bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange, which opened at 16,490.78 points, was ruling 16,370.93 points, down 127.54 points or 0.77 percent compared to its previous close at 16,498.47 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lower, 0.92 percent down at 4,907.55 points.

The BSE midcap index was up 0.36 percent, while the BSE small cap index was up 0.58 percent.

IT, telecom and metal stocks were facing bulk of the selling pressure, while consumer durables scrips saw some buying.

Among major gainers on the Sensex were Hindustan Unilever, Cipla, DLF and Sterlite Industries. The losers included Tata Power, Jindal Steel, Coal India and TCS.

Traders at Asian markets continued to be cautious about the health of the US economy and worsening eurozone debt crisis.

The benchmark Japanese Nikkei was ruling 1.01 percent lower at 8,644.96 points while the Chinese Shanghai Composite index was flat at 2,553.79 points.

Hong Kong's Hang Seng was trading 1.27 percent lower at 19,623.03 points.