Mumbai, Sept. 2 -- The key equity benchmarks traded major losses in the morning trade amid rise in crude oil prices, higher bond yields heightened concerns over a potential resurgence in inflation, raising fears that central banks could maintain or adopt tighter monetary policy. Escalating US-Iran tensions further weighed on investor sentiment and kept risk appetite subdued. The Nifty traded below the 23,900 level.

Auto shares tumbled for the six consecutive trading sessions.

At 09:25 IST, the barometer index, the S&P BSE Sensex declined 490.11 points or 0.64% to 76,455.53. The Nifty 50 index tanked 181.05 points or 0.76% to 23,873.05.

In the broader market, the BSE 150 MidCap Index tumbled 0.89% and the BSE 250 SmallCap Index dropped ...