Mumbai, April 2 -- The domestic equity benchmarks traded with major losses in morning trade, tracking global risk aversion after Donald Trump's hawkish stance on Iran. Brent crude surged toward $105, raising inflation concerns. Domestic markets remained cautious ahead of the weekly expiry of BSE Sensex contracts. Being the final session of a truncated week, volatility is expected to stay elevated with global cues guiding trade.

The Nifty slipped below the 22,200 level. Pharma shares extended losses for fourth consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, tanked 1,474.61 points or 2.01% to 71,653.15. The Nifty 50 index slipped 465.15 points or 2.05% to 22,215.

The broader market underperformed the fr...