Mumbai, Feb. 11 -- The key equity benchmarks traded with modest losses in early afternoon trade as metal stocks faced pressure following US President Donald Trump's announcement of 25% tariffs on steel and aluminum imports. The Nifty hovered below the 23,250 level.

PSU Bank shares witnessed selling pressure for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, slipped 401.12 points or 0.52% to 76,910.68. The Nifty 50 index lost 135.10 points or 0.59% to 23,244.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 2.64%, and the S&P BSE Small-Cap index dropped 3.14%.

The market breadth was weak. On the BSE, 589 shares rose and 3,248 shares fell. A total ...