Mumbai, Oct. 28 -- The key equity benchmarks trimmed losses in afternoon trade, with the Nifty reclaiming the 22,700 level after hitting an intraday low of 22,497.70 in early trade. Oil & gas, IT and FMCG stocks declined, while auto and healthcare shares bucked the weak market trend.

At 13:20 IST, the S&P BSE Sensex declined 284.92 points or 0.39% to 73,313.75. The Nifty 50 index fell 33.85 points or 0.15% to 22,714.55.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index increased 0.60% and the BSE 250 SmallCap Index rose 0.49%.

The market breadth was positive. On the BSE, 2,234 shares rose and 1,882 shares fell. A total of 260 shares were unchanged.

Buzzing Segment:

The Nifty Oil & Gas index declined 1.89...