Mumbai, Sept. 8 -- The domestic equity benchmarks traded with major cuts in the mid-afternoon trade. The Nifty traded below the 23,650 mark. IT shares extended losses for the fifth consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex declined 502.79 points or 0.66% to 75,630.02. The Nifty 50 index declined 136.05 points or 0.57% to 23,643.10.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.16% and the BSE 250 SmallCap Index added 0.01%.

The market breadth was negative. On the BSE, 1,948 shares rose and 2,330 shares fell. A total of 246 shares were unchanged.

Buzzing Index:

The Nifty IT index declined 0.26% to 29,917.55. The index tanked 5.12% in the five consecutive...