Mumbai, Nov 18 (IANS): A benchmark index for Indian equities markets Friday slipped further into the red in noon trade, with selling intensifying in capital goods, power and realty stocks. Investor sentiment continued to be subdued on negative cues from Asia.

The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 16,387.7 points, was ruling at 16,241.15 points -- down 220.56 points or 1.34 percent from its previous close at 16,461.71 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red, 71.7 points or 1.45 percent lower at 4,863.05 points.

Broader markets were also ruling lower, with the BSE 500 index down 1.39 percent. The BSE midcap index shed 1.88 percent, while the BSE smallcap index fell 2.42 percent.

The market breadth at the BSE was negative with 525 stocks advancing and 2,083 scrips declining. Another 94 remained unchanged.

Among gainers on the Sensex were: Hero MotoCorp, Cipla, Bharti Airtel and Wipro while the losers included BHEL, Tata Motors, Maruti Suzuki and Tata Steel.

Asian markets stocks were ruling lower as fears of the European debt crisis and the sluggish growth in the region continued to weigh on investors.

Concerns on debt-ridden countries able to pay back creditors overshadowed the release of positive economic data from the US which showed the manufacturing registering growth in many months.

The Japanese Nikkei closed 1.23 percent down at 8,374.91 points, while Hong Kong's Hang Seng was ruling 1.94 percent lower at 18,452.24 points.

The Chinese Shanghai composite index closed 1.95 percent lower at 2,415.13 points.