Mumbai, Aug. 7 -- The key equity benchmarks traded with decent losses in mid-morning trade, pressured by heavyweight financial stocks and higher oil prices amid concerns over the reopening of the Strait of Hormuz. Financial Services stocks declined after advancing for previous consecutive session. The Nifty traded below the 24,650 mark.

At 12:28 IST, the S&P BSE Sensex, tanked 458.88 points or 0.58% to 78,495.88. The Nifty 50 index lost 94.75 points or 0.38% to 24,541.25.

In the broader market, the BSE 150 MidCap Index shed 0.08, while the BSE 250 SmallCap Index rose 0.01%.

The market breadth was negative. On the BSE, 1,991 shares rose and 2,041 shares fell. A total of 220 shares were unchanged.

Derivatives :

The NSE's India VIX, a g...