Mumbai, May 18 -- The domestic equity benchmarks traded with minor losses in early afternoon trade despite weak global cues. Investor sentiment improved due to value buying at lower levels. Despite the rebound, the rupee depreciated, while Brent crude prices rallied above the $110-per-barrel mark.

The Nifty traded below the 23,600 level. PSU Bank shares extended losses for two consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 228.15 points or 0.30% to 75,009.84. The Nifty 50 index shed 90.85 points or 0.38% to 23,557.60.

The broader market underperformed the frontliner indices. The BSE 150 MidCap Index slipped 1.11% and the BSE 250 SmallCap Index dropped 2.18%.

The market breadth was weak. On ...