Mumbai, July 8 -- The domestic benchmark indices traded with significant losses in afternoon trade as renewed tensions between the United States and Iran rattled global markets, pushing crude oil prices above $76 a barrel and dampening investor sentiment. The Nifty traded below the 24,250 mark.

Going ahead, investors will closely monitor stock-specific developments, the progress of the southwest monsoon, movements in crude oil, gold and silver prices, and the inflation trajectory for further cues on market direction.

Media shares witnessed selling pressure for fourth consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 619.40 points or 0.79% to 77,575.19. The Nifty 50 index fell 190.35 points or ...