Mumbai, Dec 19 (IANS): A benchmark index for Indian equities Monday was ruling almost 260 points lower a little before noon as negative cues from Asian bourses prompted sharp selling. The biggest losers were from banking, realty and capital goods sectors.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,440.1 points, was ruling at 15,232.04 points, 259.31 points or 1.67 percent down around 11.36 a.m., from its previous close at 15,491.35 points.

The Sensex fell to an intra-day low of 15,202.35 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the red at 4,569.75 points, down 1.76 percent or 81.85 points from its previous close.

Broader markets were ruling in the red as well with the BSE 500 index down 1.89 percent. The BSE midcap index was trading 2.38 percent lower while the BSE smallcap index was down 2.55 percent.

The market breadth was negative with 466 stocks advancing, compared to 1,941 on the decline. Another 79 remained unchanged.

Asian markets fell sharply as global credit rating agency Fitch said it was doubtful whether a fiscal discipline accord entered into by European countries would be able to stave off a debt debacle in the zone.

Also, a slew of ratings downgrade of eurozone economies by the likes of Moody's raised concern of investors.

The Japanese Nikkei edged 1.04 percent down to rule at 8,314.51 points. Hong Kong's Hang Seng moved down 2.15 percent and was trading at 17,892.14 points, while the Chinese Shanghai composite index fell 1.93 percent to rule at 2,181.85 points.