Mumbai, April 13 -- The headline equity indices trade with major cuts in the morning trade, tracking weak global cues after the breakdown of U.S.-Iran ceasefire talks and a sharp surge in crude oil prices, which heightened concerns that the Middle East conflict could prolong and disrupt global markets. The Nifty traded below the 23,750 mark. PSU bank shares declined after advancing in the previous trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,136.08 points or 1.46% to 76,414.17. The Nifty 50 index declined 327.45 points or 1.32% to 23,720.60.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index slipped 1.03% and the BSE 250 SmallCap Index fell 0.77%.

The market breadth was w...