Mumbai, June 3 -- The frontline equity benchmarks witnessed significant losses during morning trade, as rising uncertainty surrounding the Iran-US conflict, persistent foreign institutional investor (FII) selling, and other market headwinds weighed on investor sentiment. The Nifty slipped below the 23,250 mark. IT stocks declined sharply after gaining in the previous three consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 848.36 points or 1.13% to 73,801.48. The Nifty 50 index tumbled 240.35 points or 1.02% to 23,244.75.

In the broader market, the BSE 150 MidCap Index fell 0.84% and the BSE 250 SmallCap Index slipped 0.47%.

The market breadth was strong. On the BSE, 1,393 shares rose and 2,253...