A benchmark index for Indian equities on Monday noon continued to trade in the red, amid selling pressure in blue-chip stocks like RIL and ICICI Bank. Other major Asian markets too were trading lower.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,138.04 points, was ruling at 17,004.46 points about 12.10 p.m., 229.52 points or 1.33 per cent down from its previous close at 17,233.98 points.

The Sensex had rallied 495 points or nearly 3 percentage last week backed by strong buying support from foreign institutional investors and buoyancy over the 50 basis points cut in cash reserve ratio by the Reserve Bank of India.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading in the negative at 5,121.3 points, down 83.4 points or 1.6 per cent from its previous close.

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Broader markets were also ruling in the red with the BSE 500 index trading 1.06 per cent down from its previous close.

Prominent gainers on the 30-scrip Sensex included Sun Pharma, Jindal Steel, Gail India and Hero MotoCorp. Among losers were BHEL, Sterlite, Bharti Airtel, M&M.

The market breadth was negative with 1,047 stocks advancing, 1,381 on the decline and 108 remaining unchanged.

Asian markets were also ruling lower as traders booked profits after the recent rally and cautiously awaited results of talks on a Greece debt swap deal.

The Japanese Nikkei fell 0.54 per cent and closed at 8,793.05 points, while Hong Kong's Hang Seng moved down 1.01 percent to trade at 20,295.53 points.

The Chinese Shanghai Composite index slipped 0.82 per cent and was ruling at 2,299.99 points.