Mumbai, Dec. 16 -- The frontline equity benchmarks traded with substantial losses in the mid-afternoon trade. The Nifty traded below the 25,900 level. Investor sentiment remained weak amid persistent foreign institutional investor (FII) selling and a depreciating rupee. Additionally, mixed economic data further weighed on market mood, while participants continued to keep an eye on ongoing IPO activity.

Private bank shares witnessed profit booking after advancing in the past three consecutive trading sessions.

At 14:30 ST, the barometer index, the S&P BSE Sensex, declined 528.79 points or 0.62% to 84,684.57. The Nifty 50 index fell 163.50 points or 0.62% to 25,863.05.

The broader market underperformed the benchmark indices. The S&P BSE ...