Mumbai, April 1 -- The headline equity benchmarks traded with significant losses in the early-afternoon trade, amid concerns over U.S. President Trump's tariff announcements on April 2, which could impact overall market sentiment. The Nifty traded below the 23,250 mark after hitting the day's high of 23,565.15 in morning trade. Consumer durables shares extended losses for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,180.94 points, or 1.53%, to 76,233.98. The Nifty 50 index tumbled 305.25 points, or 1.30%, to 23,214.10.

The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index declined 0.84%, and the S&P BSE Small-Cap index shed 0.08%.

The market breadth w...