Mumbai, April 23 -- The domestic equity benchmarks remained under pressure in mid-afternoon trade with sharp losses as investor sentiment stayed cautious due to uncertainty over the reopening of the Strait of Hormuz and crude oil prices rising above $100 per barrel. Investors are also closely monitoring Q4 earnings for further cues. The Nifty traded below 24,250 mark.

PSU Bank shares witnessed profit booking after rallying in the previous four trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex declined 717.65 points or 0.92% to 77,780.63. The Nifty 50 index slumped 160.50 points or 0.68% to 24,210.15.

In the broader market, the BSE 150 MidCap Index shed 0.25% and the BSE 250 SmallCap Index fell 0.33%.

The market b...