Mumbai, June 3 -- The key equity barometers traded with major cuts in early afternoon trade. Nifty traded below the 23,300 level. FMCG shares declined after advancing in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 737.88 points or 0.99% to 73,846.14. The Nifty 50 index lost 198.70 points or 0.85% to 23,286.

In the broader market, the BSE 150 MidCap Index fell 1.25% and the BSE 250 SmallCap Index shed 0.97%.

The market breadth was weak. On the BSE, 1,217 shares rose and 2,765 shares fell. A total of 193 shares were unchanged.

Economy:

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