Mumbai, Oct. 12 -- The key equity benchmarks traded near the day's lows in mid-afternoon trade. Investor sentiment remained cautious ahead of the release of India's inflation data later in the day. Although crude oil prices retreated, they remained above $104 a barrel, keeping inflationary concerns in focus. A sharp rise in Indian bond yields further weighed on market sentiment. The Nifty slipped below the 22,350 mark.

IT shares declined after rallying in the past trading session.

At 14:25 IST, the S&P BSE Sensex declined 709.75 points or 0.98% to 71,756.54. The Nifty 50 index fell 189.90 points or 0.85% to 22,330.45.

The broader market outperformed frontline indices. The BSE 150 MidCap Index added 0.14% and the BSE 250 SmallCap Index...