Mumbai, April 24 -- The key domestic indices traded with sharp losses in morning trade as investor sentiment remained cautious amid stalled US-Iran negotiations, uncertainty over the reopening of the Strait of Hormuz and a sharp surge in crude oil prices above the $105-per-barrel mark. Unless geopolitical tensions ease, the overhang on crude oil prices, the rupee, and institutional flows is expected to persist. Investors are also closely monitoring Q4 earnings for further cues. The Nifty traded below the 24,000 level.

IT shares witnessed selling pressure for third straight trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 819.40 points or 1.06% to 76,844.60. The Nifty 50 index slumped 218.85 points or 0.91%...