Mumbai, June 8 -- The domestic equity benchmarks traded with major losses in the afternoon amid escalating geopolitical tensions in the Middle East and a sharp rise in crude oil prices. Concerns were further amplified after the central bank trimmed its FY27 GDP growth forecast to 6.6% from around 6.9% and raised its inflation projection to about 5.1%.

The Nifty traded below the 23,200 level. Barring the pharma index, all other shares declined on the NSE.

At 13:28 IST, the barometer index, the S&P BSE Sensex declined 529.60 points or 0.72% to 73,710.48. The Nifty 50 index fell 169 points or 0.72% to 23,197.10.

In the broader market, the BSE 150 MidCap Index dropped 0.77% and the BSE 250 SmallCap Index slumped 0.84%.

The market breadth ...