Mumbai, Sept. 11 -- The key equity benchmarks traded with major cuts in the morning trade as Brent crude surged to $110 per barrel amid an escalation in the Middle East conflict, prompting investors to flee risk assets. India remains particularly vulnerable to higher oil prices. The Nifty traded tad below the 23,300 level. Realty shares extended losses for the sixth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 538.70 points or 0.72% to 74,367.44. The Nifty 50 index lost 179.35 points or 0.76% to 23,298.45.

In the broader market, the BSE 150 MidCap Index fell 0.94% and the BSE 250 SmallCap Index shed 0.92%.

The market breadth was weak. On the BSE, 1,146 shares rose and 2,669 shares fell. A t...