Mumbai, Jan. 20 -- The key equity benchmarks traded with major losses in early afternoon trade amid the expiry of F&O contracts on the NSE. The Nifty slipped below the 25,450 mark after hitting an intraday high of 25,585 in early trade. Investors are closely tracking the ongoing Q3 earnings season and developments from the World Economic Forum (WEF) annual meeting in Davos.

Consumer durables shares tumbled for eight consecutive trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 427.23 points or 0.51% to 82,818.95. The Nifty 50 index fell 157.15 points or 0.62% to 25,430.45.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.66% and the S&P BSE Small-Cap index fel...