Mumbai, Aug 4 - A key index of the Indian stock markets was over 77 points in the red shortly before noon Tuesday.

At 11.40 a.m., the 30-scrip benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened higher at 15,940.1 points, was at 15,846.61 points -- 77.62 points or 0.49 percent lower than Monday's close.

The S&P CNX Nifty of the National Stock Exchange (NSE), too, was trading in the red at 4,689.15 points, down 0.47 percent.

Both benchmark indices had touched their respective 14-month highs Monday.

However, broader market indices were still in the green with the BSE midcap index trading 0.57 percent higher and the BSE smallcap index moving up 1.15 percent.

Of the 13 sectoral indices on the BSE, those for consumer durables, auto and metal stocks gained the most, while telecom and IT scrips came under selling pressure.

The market breadth was positive, with 1,497 stocks rising, compared to 853 declining on the BSE and 82 remaining unchanged.