Mumbai, Feb. 12 -- The headline equity indices pared all gains and traded with modest losses in mid-afternoon trade. The Nifty traded below the 23,000 level after hitting day's high of 23,144.70 in mid-afternoon trade. Auto shares extended losses for the third day in a row.

At 14:26 IST, the barometer index, the S&P BSE ,Sensex, declined 301.99 points or 0.39% to 75,999.25. The Nifty 50 index lost 85.65 points or 0.37% to 22,986.15.

The broader market underperformed the frontline indices. the S&P BSE Mid-Cap index fell 0.96%, and the S&P BSE Small-Cap index dropped 1.13%.

The market breadth was weak. On the BSE, 1,315 shares rose and 2,605 shares fell. A total of 107 shares were unchanged.

Buzzing Index:

The Nifty Auto index dropped ...