Mumbai, June 2 -- The key equity benchmarks traded with minor cuts in morning trade. Nifty traded below the 23,400 level. Pharma shares extended losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 46.18 points or 0.02% to 74,255.24. The Nifty 50 index fell 30.50 points or 0.13% to 23,354.

In the broader market, the BSE 150 MidCap Index fell 0.06% and the BSE 250 SmallCap Index slipped 0.01%.

The market breadth was positive. On the BSE, 1,841 shares rose and 1,802 shares fell. A total of 227 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.93% to 16.06.

Buzzing Index:

The Nifty Pharma index fell 1....