Mumbai, Jul 31 (IANS): A benchmark index of Indian equities markets Tuesday was trading 70 points down in afternoon trade, losing early gains after the Reserve Bank left key interest rates unchanged and cut growth rate to 6.5 percent for the current fiscal. Banking and metal indexes came under intense selling pressure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,186.61 points, was ruling at 17,073.99 points, 0.41 percent or 69.69 points down from its previous day's close at 17,143.68 points.

The BSE banking index was down 150.84 points, followed by metal index, down 126.17 points and capital goods, down 113.53 points.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange fell 0.43 percent to 5,177.50 points.

The main Sensex losers were SBI, down 2.68 percent at Rs.1,976.70; Jindal Steel, down 2.32 percent at Rs.393.50; Bharti Airtel, down 2.30 percent at Rs.301.60; BHEL, down 1.76 percent at Rs.212.40; and Hindalco Inds, down 1.69 percent at Rs.1,16.35.

The major Sensex gainers were Cipla, up 1.86 percent at Rs.339.20; Wipro, up 1.74 percent at Rs.340; ONGC, up 1.32 percent at Rs.280.20; HDFC, up 1.08 percent at Rs.684.50; and Maruti Suzuki, up 0.79 percent at Rs.1,129.