Mumbai, April 22 -- The key benchmarks indices traded with major cuts in morning trade as Donald Trump announced an extension of the ceasefire until Iranian leaders submit a unified proposal. Investor sentiment remained cautious amid uncertainty surrounding the deadline for the ceasefire in the West Asia conflict. However, market participants will track Q4 earnings. The Nifty slipped below the 24,400 level.

IT shares tumbled after advancing in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex declined 791.18 points or 0.99% to 78,492.51. The Nifty 50 index slumped 201.20 points or 0.82% to 24,369.70

In the broader market, the BSE 150 MidCap Index shed 0.01% and the BSE 250 SmallCap Index rose 0.28%.

The m...