Mumbai, April 9 -- The headline equity indices traded with significant losses in the mid-afternoon trade, weighed down by uncertainty surrounding the US-Iran ceasefire. Investors are awaiting TCS' quarterly numbers for cues on the IT sector. Volatility remained elevated due to the weekly expiry of Sensex derivatives contracts, adding to the cautious undertone in the market. Nifty slipped below the 23,750 mark. PSU bank shares tumbled after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex tumbled 1,150.53 points or 1.47% to 76,420.65. The Nifty 50 index plunged 295.30 points or 1.23% to 23,703.00.

In the broader market, the BSE 150 MidCap Index dropped 0.21% and the BSE 250 SmallCap Index fell ...