Mumbai, June 11 -- The key equity barometers traded with modest cuts in early trade, as investors turned cautious following fresh escalation in the Middle East conflict, a sharp rise in crude oil prices and stronger-than-expected U.S. inflation data. Nifty traded below the 23,150 mark. IT, auto and consumer durables shares declined while media and pharma stocks advanced.

At 09:30 IST, the barometer index, the S&P BSE Sensex, dropped 379.95 points or 0.45% to 73,608.17. The Nifty 50 index fell 107.85 points or 0.47% to 23,107.75.

The broader market underperformed the frontline indices. the BSE 150 MidCap Index fell 0.49% and the BSE 250 SmallCap Index shed 0.48%.

The market breadth was weak. On the BSE, 1,817 shares rose and 1,061 share...