Mumbai, July 8 -- The key equity barometers traded with major cuts in the morning trade as renewed tensions between the United States and Iran rattled global markets, driving crude oil prices above $76 a barrel and dampening investor sentiment. Nifty traded below the 24,250 mark. FMCG shares declined after advancing in the past five trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, tanked 493.32 points or 0.63% to 77,687.40. The Nifty 50 index lost 155.20 points or 0.64% to 24,243.50.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index declined 0.19% and the BSE 250 SmallCap Index fell 0.22%.

The market breadth was negative. On the BSE, 1,614 shares rose and 2,040 shares fell. A total ...