Mumbai, April 3 -- The headline equity benchmarks traded with minor losses in the morning trade. The downturn comes after US President Donald Trump announced wide-ranging tariffs on imports from partner and adversary nations alike, spurring fears of a recession in the US and trade wars worldwide. The Nifty traded near the 23,300 level. IT shares declined after advancing for the previous trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, slipped 136.17 points or 0.19% to 76,472.28. The Nifty 50 index fell 32.55 points or 0.14% to 23,302.60.

In the broader market, the S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index added 0.35%.

The market breadth was positive. On the BSE, 2,290 shares rose and 1,206 s...