Mumbai, Sept. 7 -- The key equity benchmarks traded with modest cuts in mid-morning trade, weighed down by a stronger-than-expected US jobs report that revived concerns over a potential Federal Reserve rate hike. Elevated crude oil prices and escalating tensions in the Middle East further dampened investor sentiment. The Nifty traded above the 23,800 level, while IT shares extended losses for the fourth consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 417.25 points or 0.55% to 76,098.18. The Nifty 50 index lost 131.10 points or 0.55% to 23,769.50.

In the broader market, the BSE 150 MidCap Index fell 0.55% and the BSE 250 SmallCap Index rose 0.05%.

The market breadth was negative. On the BSE,...