Mumbai, Feb 4 (IANS) A benchmark index for Indian equities was ruling in negative terrain Thursday morning and was 121 points lower than its previous close 90 minutes after opening bell.

Around 10.19 a.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,500.29 points, was at 16,374.07 points, down 121.98 points or 0.74 percent from its previous close at 16,496.05 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,893.75 points, against the previous close at 4,931.85 points, a loss of 0.77 percent or 38.1 points.

Broader market indices were, however, in the green, with the BSE midcap index up 0.25 percent and the BSE small cap index trading 0.36 percent higher.

Metal, realty and IT stocks were among those facing greater selling pressure.

Other major Asian markets too were in the red, with the benchmark Japanese index, Nikkei, ruling 0.96 percent lower at 10,304.81 points, and the Hang Seng of the Hong Kong Stock Exchange down 1.55 percent at 20,401.84 points.

The Chinese Shanghai composite index too was in the negative territory, at 2,988.17 points, 0.52 percent down, while the Korean Kospi was ruling 0.09 percent lower at 1,613.54 points.