Mumbai, Jan 18 (IANS): A benchmark index for Indian equities markets Wednesday afternoon continued to trade on a lacklustre note. Reliance Industries was the big mover with news of a share buyback sending the stock soaring.

The RIL scrip was trading 5.48 percent higher at Rs.780.95 around 2.45 p.m. at the Bombay Stock Exchange (BSE).

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,502.42 points, was ruling at 16,452.58 points, 13.47 points or 0.08 percent down from its previous close at 16,466.05 points.

The Sensex has touched a high of 16,501.38 points and a low of 16,270.87 points. It had rallied over 276 points in Tuesday's trade.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading dull at 4,953.75 points -- down 0.27 percent or 13.55 points from its previous close.

Broader markets were also subdued. The BSE 500 index was ruling 0.37 percent lower from previous close. The BSE midcap index fell 1.01 percent and the BSE smallcap index slipped 0.81 percent.