Mumbai, July 23 -- The frontline equity indices traded with modest losses in the afternoon trade. The Nifty traded below the 24,000 level. PSU Bank shares extended losses for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, slipped 239.55 points or 0.31% to 76,515.50. The Nifty 50 index fell 112.35 points or 0.46% to 23,885.45.

In the broader market, the BSE 150 MidCap Index dropped 0.70% and the BSE 250 SmallCap Index declined 0.48%.

The market breadth was negative. On the BSE, 1,806 shares rose and 2,138 shares fell. A total of 217 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, lost 1.41% to 13.11. The Nifty ...