Mumbai, May 5 -- The key equity benchmarks traded with modest losses in early afternoon trade, tracking weakness in global markets as escalating US-Iran conflict in the Middle East weighed on investor sentiment. The Nifty traded below the 24,000 level. Private bank shares extended losses for the third consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex slipped 527.77 points or 0.68% to 76,726.65. The Nifty 50 index fell 164.60 points or 0.68% to 23,953.55.

The broader market outperformed the frontliner indices. The BSE 150 MidCap Index slipped 0.08% and the BSE 250 SmallCap Index rose 0.04%.

The market breadth was negative. On the BSE, 1,703 shares rose and 2,236 shares fell. A total of 218 shares were un...