Mumbai, May 8 -- The domestic equity barometers continued remained under heavy selling pressure in mid-afternoon trade as rising geopolitical tensions surrounding the US-Iran conflict dented investor sentiment. Weak geopolitical cues lifted Brent Crude prices above $100, while the rupee weakened to 94-per-dollar mark against previous close. Meanwhile, investors continued to track and react to corporate Q4 earnings announcements. The Nifty traded below 24,200 level. PSU bank shares extended losses for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex dropped 505.91 points or 0.65% to 77,339. The Nifty 50 index fell 133 points or 0.55% to 24,193.20.

In the broader market, the BSE 150 MidCap Inde...