Mumbai, Aug. 22 -- The domestic equity indices traded with substantial losses in the mid-afternoon trade as investors booked profits despite of optimism surrounding Goods and Services Tax (GST) reforms. Market sentiment remained cautious ahead of Federal Reserve Chair Jerome Powell's policy remarks at the Jackson Hole symposium later in the day. The Nifty traded near 24,900 level.

FMCG shares extended losses for the second consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex, declined 597.55 points or 0.73% to 81,403.16. The Nifty 50 index fell 187.35 points or 0.74% to 24,899.00.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index fell 0.12%.

The market breadth was...