New Delhi  - Indian equities extended their losses from last week as the benchmark Sensex fell more than 3 per cent Monday, tracking weakness in global markets despite an agreement on a 700-billion-dollar bailout plan for US financial institutions.

The 30-share-sensitive index fell below 13,000 and was trading at 12,657.76 at 12:30 pm (0700 GMT), down 444.42 points, or 3.39 per cent.

Similarly, the broader S&P CNX Nifty of the National Stock Exchange was trading at 3,863 for a midday loss of 3.07 per cent.

Market analysts said shares slid soon after opening, mirroring other Asian markets that also traded lower.

Brokers told the PTI news agency that investors were cautious because they saw the credit crisis deepening among financial institutions in the United States amid a delay in the rescue package. (dpa)