Mumbai, Aug. 7 -- The key equity benchmarks traded with modest losses in mid-morning trade, pressured by heavyweight financial stocks and higher oil prices amid concerns over the reopening of the Strait of Hormuz. The Nifty traded below the 24,650 mark, while consumer durables shares declined after advancing in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, tanked 362.62 points or 0.46% to 78,592.14. The Nifty 50 index lost 46.85 points or 0.19% to 24,588.60.

In the broader market, the BSE 150 MidCap Index was flat, while the BSE 250 SmallCap Index declined 0.09%.

The market breadth was positive. On the BSE, 1,996 shares rose and 1,906 shares fell. A total of 208 shares were unchanged.

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