Mumbai, Jan 4 - A benchmark index of Indian equities Tuesday was ruling dull around noon, having dropped from its early highs.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,617.38 points, was ruling at 20,490.69 points, down 70.36 points or 0.34 percent from its previous close at 20,561.05 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty was trading at 6,140.15 points, down 0.28 percent or 17.45 points.

Broader markets were also lacklustre, with the BSE midcap index ruling flat and the BSE smallcap index trading 0.13 percent higher.

FMCG, oil and gas and healthcare stocks saw good buying while banking and auto scrips came under selling pressure.

The market breadth was mixed, with 1,375 stocks advancing, compared to 1,364 scrips on the decline, while 100 stocks were unchanged.

Among major gainers of the Sensex were Reliance Infra, Hindustan Unilever, ITC and Jindal Steel, while prominent losers included Bajaj Auto, ICICI Bank, SBI and Hindalco Industries.

Other major bourses in Asia continued to rally with trader optimism in the New Year continuing to fuel buying activity.

The Japanese Nikkei index closed 1.65 percent higher at 10,398.1 points, while the Chinese Shanghai Composite index moved up 1.36 percent at 2,846.3 points.

Hong Kong's Hang Seng was trading 0.84 percent higher at 23,632.56 points. (IANS)