Mumbai, Feb. 27 -- The key equity benchmarks traded with minor significant losses in early afternoon trade, weighed down by weak global cues and rising geopolitical tensions surrounding Iran. The Nifty slipped below the 25,300 level. Auto shares declined after advancing for previous two trading session.

At 12:28 IST, the barometer index, the S&P BSE Sensex, dropped 588.66 points or 0.72% to 81,659.95. The Nifty 50 index slumped 224.40 points or 0.88% to 25,272.15.

In the broader market, the BSE 150 MidCap Index slumped 0.70% and the BSE 250 SmallCap Index fell 0.69%.

The market breadth was weak. On the BSE, 1,505 shares rose and 2,441 shares fell. A total of 193 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the...