Mumbai, March 4 -- The domestic equity benchmarks traded with major losses in the afternoon trade, as escalating clashes between the US, Israel and Iran lifted crude oil prices to their highest in 19 months and intensified investor risk aversion. Brent crude climbed strongly on fears of supply disruptions through the Strait of Hormuz, adding to inflation concerns and global market sell-offs. Nearly all major Nifty sectoral indices traded lower in the early hours.

The Nifty traded below the 24,400 level. Metal shares declined after advancing in the past trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, slumped 1,492.17 points or 1.86% to 78,746.68. The Nifty 50 index tanked 501.20 points or 2% to 24,364.65.

The broa...