Mumbai, July 4 -- The key equity indices erased their early gains and traded near the flatline with minor losses in mid-morning trade, as investors closely monitored the US-India trade deal. The Nifty slipped below the 25,400 level. Auto shares declined after advancing in the past two consecutive sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex declined 23.98 points or 0.03% to 83,215.49. The Nifty 50 index lost 6.60 points or 0.02% to 25,398.70.

The broader market outperformed frontline indices. The S&P BSE Mid-Cap index advanced 0.33% and the S&P BSE Small-Cap index rallied 0.32%.

The market breadth was positive. On the BSE 2,246 shares rose and 1,511 shares fell. A total of 197 shares were unchanged.

The NSE's India ...