Mumbai, Feb. 28 -- The key equity indices traded in rangebound with significant losses in mid-morning trade due to ongoing FII selling and concerns over the tariffs situation. The Nifty traded below 22,300 level. Auto shares declined for the second consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, tumbled 986.72 points or 1.32% to 73,615.77. The Nifty 50 index declined 261.70 points or 1.16% to 22,283.35.

The broader market underperformed frontline indices. The S&P BSE Mid-Cap index declined 2.39% and the S&P BSE Small-Cap index dropped 2.51%.

The market breadth was weak. On the BSE, 582 shares rose and 3,134 shares fell. A total of 132 shares were unchanged.

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