Mumbai, April 24 -- The key equity benchmarks continued to trade with sharp losses in mid-afternoon trade as investor sentiment remained cautious amid stalled US-Iran negotiations, uncertainty over the reopening of the Strait of Hormuz and a sharp surge in crude oil prices above the $105-per-barrel mark. Until signs of de-escalation emerge, the overhang on crude oil prices, the rupee, and institutional flows is expected to persist. Investors are also closely monitoring Q4 earnings for further cues. The Nifty slipped below the 23,900 level.

Realty shares declined for the second consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex tumbled 1,118.30 points or 1.44% to 76,543.10. The Nifty 50 index slumped 313....