Mumbai, Sept. 11 -- The key equity barometers traded with sigficant loses in the early afternoon trade as a weakening rupee, higher crude oil prices and elevated global bond yields weighed on sentiment. The Nifty slipped below the 23,350 level.

PSU Bank shares declined after advancing in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 427.78 points or 0.58% to 74,477.91. The Nifty 50 index declined 140.10 points or 0.60% to 23,338.50.

In the broader market, the BSE 150 MidCap Index fell 0.52% and the BSE 250 SmallCap Index dropped 0.59%.

The market breadth was negative. On the BSE, 1,474 shares rose and 2,651 shares fell. A total of 256 shares were unchanged.

Derivatives:

The NSE's India VIX,...