Mumbai, Oct 3 (IANS): Indian equities markets were ruling lower Monday afternoon, taking a cue from the sell-off in global markets, which were spooked by reports of Greece's debt situation worsening and a weakening European economy.

The 30-scrip sensitive index (Sensex) of the BSE, opened at 16,255.97 points, and was ruling at 16,154.81 points, down 298.95 points or 1.82 percent from its previous close at 16,453.76 points.

It fell over 391 points earlier to an intra-day low of 16,062.11 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red, 1.78 percent down or 88.1 points at 4,855.15 points.

Broader markets also edged lower. The BSE midcap index was down 1.74 percent, while the BSE small cap index was ruling 1.41 percent lower. The BSE 100 index was down 1.68 percent.

Some of the top gainers on the Sensex at this time were Hero MotoCorp, M&M, Coal India and Maruti Suzuki, while losers included DLF, Tata Steel, Wipro and ICICI Bank.

Global markets were in a firm bearish grip over worries of a worsening Euro zone debt crisis.

Among Asian bourses, the Japanese Nikkei closed 1.78 percent lower at 8,545.48 points, while the Hong Kong's Hang Seng index was down a whopping 4.78 percent down at 16,750.65 points.

The Chinese markets were closed on account of a holiday.

European markets too opened lower.

While Britain's FTSE was ruling 2.48 percent down at 5,001.17 points, the German DAX was trading 3.63 percent lower at 5,302.45 points.

The French CAC 40 was ruling 3 percent down at 2,982.45 points.