Mumbai, Oct. 12 -- The key equity benchmarks traded with modest cuts in early afternoon trade, weighed down by weakness in banking shares after the Reserve Bank of India tightened Cash Reserve Ratio (CRR) maintenance norms for banks. Investor sentiment also remained subdued ahead of India's inflation data, due later in the day. Despite a recent decline, crude oil prices remained elevated, keeping inflationary concerns in focus. The Nifty slipped below the 22,400 level. FMCG shares declined after advancing in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 519.66 points or 0.74% to 71,950.44. The Nifty 50 index fell 138.45 points or 0.61% to 22,382.

In the broader market, the BSE 150 MidCap Index ...