Mumbai, Sept. 24 -- The key equity benchmarks traded with major cuts in mid-morning trade, as rising oil prices, elevated US Treasury yields and losses across Asian markets weighed on domestic equities. Investors also tracked key regulatory and market developments. The Nifty traded below the 23,250 mark, while metal shares declined after advancing in the past two trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 687.83 points or 0.92% to 74,155.56. The Nifty 50 index lost 231.90 points or 0.99% to 23,215.20.

In the broader market, the BSE 150 MidCap Index fell 1.08% and the BSE 250 SmallCap Index shed 0.46%.

The market breadth was negative. On the BSE, 1,530 shares rose and 2,464 shares fell. A total of 25...