Mumbai, Oct. 8 -- The domestic equity benchmarks traded with major cuts in the mid-afternoon trade. The Nifty traded below the 22,250 mark. Pharma shares extended losses for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,158.71 points or 1.58% to 71,479.99. The Nifty 50 index lost 374.75 points or 1.66% to 22,217.40.

In the broader market, the BSE 150 MidCap Index declined 2.39% and the BSE 250 SmallCap Index fell 2.30%.

The market breadth was weak. On the BSE, 930 shares rose and 3,404 shares fell. A total of 227 shares were unchanged.

Buzzing Index:

The Nifty Pharma index fell 2.32% to 25,823.90. The index jumped 2.78% in the two consecutive trading sessions.

Mankind Pharma ...