Mumbai, Feb. 12 -- The key equity benchmarks traded with major losses in the mid-afternoon trade, weighed down by profit booking. Sentiment remained subdued due to the expiry of BSE derivatives contracts and FII selling, prompting a shift toward a risk-off approach. The Nifty hovered below the 25,850 mark. Oil & gas shares tumbled after rallying for four consecutive trading sessions.

Media shares declined after advancing in the past three trading sessions.

At 14:25 ST, the barometer index, the S&P BSE Sensex declined 455.46 points or 0.54% to 83,772.58. The Nifty 50 index fell 127.90 points or 0.49% to 25,824.55.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index dropped 0.55% and the BSE 250 SmallCap Ind...