Mumbai, Feb. 3 -- The key equity indices traded with significant losses in the early afternoon trade, following weak cues from Asian markets. This decline was driven by heightened concerns over a potential broader trade war, particularly after US President Donald Trump imposed tariffs on Canada, Mexico, and China. The Nifty hovered below the 23,300 level. PSU bank shares extended losses for the second consecutive trading sessions.

At 12:28 IST, the barometer index, the S&P BSE Sensex, tumbled 502.02 points or 0.66% to 76,999.45. The Nifty 50 index declined 191.80 points or 0.82% to 23,286.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.31% and the S&P BSE Small-Cap index lost 1.83%.

The...