Mumbai, Mar 29 (IANS): A benchmark index for Indian equities Thursday continued to rule in the red in afternoon trade, having started on a weak note. Negative cues from global bourses added to the lacklustre mood in the markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,039.85 points, was ruling at 17,027.44 points around 2.24 p.m., down 94.18 points or 0.55 percent compared to its previous close at 17,121.62 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also ruling lower at 5,172.25 points, down 22.5 points or 0.43 percent from its previous close.

Broader markets were in the red too with the BSE 500 index trading 0.31 percent down. The BSE midcap index was ruling flat, while the BSE small cap index was up 0.27 percent.

Capital goods, IT and telecom stocks were among the major losers at this time, while healthcare scrips saw some gains. The market breadth was negative with 1,264 stocks advancing, 1,395 on the decline and 118 remaining unchanged.

Asian markets closed in the red as weak economic data from the US and Britain stoked fears of a global economic slump and dampened investor sentiments.

The Japanese Nikkei index closed 0.67 percent down at 10,114.79 points.

Hong Kong's index ended 1.32 percent lower at 20,609.39 points, while the Chinese Shanghai Composite index ended 1.43 percent down at 2,252.16 points.

European bourses were dull as well.

Britain's FTSE 100 was down 0.42 percent at 5,784.33 points, while the German DAX was trading 0.45 percent lower at 6,967.33 points.

The French CAC 40 was ruling lacklustre at 3,424.06 points, down 0.18 percent.