Indian equities continued to trade lower tracking weak global cues on Monday. Intense selling pressure was seen in index heavyweights across board.

BSE Midcap and Smallcap index declined 2% each. IT, auto, metal and banking stocks saw selling activity.

The 30-share benchmark index, BSE Sensex opened flat with a rise of 26.55 points or 0.05% at 49,061.22, while the broad based NSE Nifty started with a rise of 19.60 points or 0.14%, at 14,453.30.

At 11.52 a.m., the Sensex was trading down 421.92 points or 0.86% at 48,612.75 with 27 components falling.  Meanwhile, the Nifty was trading lower by 140.15 points or 0.97% at 14,293.55 with 49 components falling.  

Oil & Natural Gas Corporation  contributed fall of 97.37 points in the Sensex.  It was followed by Tata Motors  (95.55 points), Infosys  (81.22 points), Larsen & Toubro  (35.33 points) and State Bank Of India (33.68 points).

However, Reliance Industries  contributed rise of 66.81 points in the Sensex.  It was followed by HDFC Bank  (31.02 points), ITC  (3.6 points), Housing Development Finance Corporation  (0 points) and Hindustan Unilever  (0.33 points).

Biggest gainers in the 30-share index were Reliance Industries  (1.46%), HDFC Bank (0.98%), Titan (0.93%), Nestle (0.77%) and ITC  (0.73%).

On the other hand, Oil & Natural Gas Corporation  (4.29%), Tata Steel (4.27%), IndusInd Bank (3.63%), Bajaj Finance  (3.31%),  NTPC (3.13%), and Bajaj Finserv (2.97%) were the biggest losers in the Sensex.

Market breadth was negative with 697 advances against 2,082 declines.