Mumbai, Aug 26 (IANS): A benchmark index for Indian equities was in a free fall Friday afternoon amid a severe sell-off in realty and metal stocks.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,155.55 points, was ruling at 15,784.86 points, down 361.47 points or 2.24 percent from its previous close at 16,146.33 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lacklustre, 2.09 percent down at 4,729.5 points.

Broader markets were also ruling in the red. The BSE midcap index was down 2.44 percent, while the BSE smallcap index was trading 2.54 percent lower.

All 13 sectoral indices were in the red at this time with selling pressure witnessed in power, energy, banking and PSU stocks.

Negative cues from Europe too did not help sentiments. Stocks slipped in Europe as traders speculated about what measures US Federal Reserve Chairman Ben Bernanke would indicate in a speech scheduled later Friday.