Mumbai, Dec. 16 -- The key equity benchmarks traded with modest gains in the early afternoon trade amid persistent foreign portfolio outflows, a weakening rupee, and continued uncertainty over a trade agreement with the United States. The Nifty traded a tad below the 25,900 level. Metal shares declined after advancing in the past four consecutive trading sessions.

At 12:30 ST, the barometer index, the S&P BSE Sensex, dropped 397.46 points or 0.47% to 84,815.90. The Nifty 50 index lost 129.45 points or 0.50% to 25,897.55.

In the broader market, the S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index slipped 0.48%.

The market breadth was negative. On the BSE, 1,616 shares rose and 2,312 shares fell. A total of 182 shares wer...