Mumbai, Oct. 8 -- The key equity benchmarks traded with modest cuts in early trade, weighed down by weak global cues, sustained foreign selling and elevated crude oil prices. The Nifty traded below the 22,500 level. Barring IT, all other sectoral indices traded in the red on the NSE.

At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 294.86 points or 0.37% to 72,362.13. The Nifty 50 index lost 114.75 points or 0.51% to 22,482.70.

In the broader market, the BSE 150 MidCap Index declined 0.82% and the BSE 250 SmallCap Index fell 0.89%.

The market breadth was weak. On the BSE, 1,044 shares rose and 1,967 shares fell. A total of 210 shares were unchanged.

FPIs sold shares worth Rs 25,976.20 crore in October through 7 October 20...