Mumbai, Jan. 6 -- The key equity benchmarks traded with minor losses in the in the morning trade as investors weighed the risks of new U.S. tariffs against a steady stream of quarterly earnings reports that have kept hopes of an earnings recovery alive.

The Nifty traded below the 26,250 mark, while oil and gas shares extended losses for a second consecutive session.

At 10:28 ST, the barometer index, the S&P BSE Sensex, declined 188.50 points or 0.22% to 85,251.12. The Nifty 50 index fell 25.95 points or 0.10% to 26,224.35.

In the broader market, the S&P BSE Mid-Cap index fell 0.16% and the S&P BSE Small-Cap index shed 0.19%.

The market breadth was negative. On the BSE, 1,604 shares rose and 1,984 shares fell. A total of 243 shares wer...