The Indian equities market continued to trade flat early Friday afternoon trade due to selling pressure across key sectors spurred by the international oil prices notching a new high - almost $125 per barrel.

At 1.30 p.m., the 30-share benchmark index of the Bombay Stock Exchange (BSE), the Sensex, was down 186.51 points or 1.09 percent to 16,894.14, which was its lowest point for the day so far.

The Sensex had hit a high of 17,125.95 in early trade.

At the same time, the broader-based S&P CNX Nifty index of the National Stock Exchange was down by 50.40 points or 0.87 percent at 5,037.55.

The market breadth was negative with low volumes on BSE; 980 shares advanced as compared to 1,592 that declined, while 71 remained unchanged.