Mumbai, June 29 -- The frontline equity indices traded with major losses in the mid-afternoon trade as investor sentiment remained cautious following the escalation of tensions between Iran and the US over the weekend. The sell-off was further aggravated by a moderate rise in crude oil prices, which raised concerns over inflationary pressures and their potential impact on the global economy.

Going ahead, investors will closely monitor movements in crude oil and gold prices, as well as the progress of the monsoon, for further cues on market direction. Nifty slipped below 24,000 level. Media shares extended losses for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex declined 386.39 points or 0....