Mumbai, Oct. 23 -- Key equity benchmarks extended their losses in afternoon trade as Brent crude surged to $114 per barrel amid escalating geopolitical tensions and concerns over energy supply disruptions. The Nifty slipped below 22,400. Renewed FII selling, added to the pressure, while broader indices declining sharply. Rising expectations of US Federal Reserve rate hikes, driven by inflation concerns, further dampened sentiment, with metal, realty and consumer durables stocks among the major losers.

At 13:30 IST, the S&P BSE Sensex tanked 670.59 points or 0.92% to 72,578.80. The Nifty 50 index slumped 278.30 points or 1.23% to 22,409.35.

The broader market underperformed the frontline indices. The Nifty Midcap 150 Index declined 2.96%...