Mumbai, May 12 -- The headline equity indices traded with major losses in morning trade amid rising crude oil prices, sustained foreign fund outflows, and renewed concerns over the fragile US-Iran ceasefire. Nifty traded below the 23,650 mark. IT shares declined for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 713.83 points or 0.94% to 75,301.45. The Nifty 50 index fell 191.65 points or 0.80% to 23,624.80.

In the broader market, the BSE 150 MidCap Index slipped 0.72% and the BSE 250 SmallCap Index declined 1.02%.

The market breadth was weak. On the BSE, 1,211 shares rose and 2,478 shares fell. A total of 193 shares were unchanged.

Buzzing Index:

The Nifty IT index fell 3.30% to...