Mumbai, May 22 -- The key equity benchmarks continued to trade with major losses in morning trade. Market sentiment remained subdued amid weak global cues, with concerns that the U.S. budget bill could significantly increase the national debt, potentially threatening the country's status as a global safe haven and triggering risk-off mood among investors. Traders are expected to monitor global bond markets and fiscal developments closely in coming days. The Nifty dropped below the 24,600 level.

FMCG shares declined after advancing in the past trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, fell 708.85 points or 0.89% to 80,871.92. The Nifty 50 index tumbled 233.45 points or 0.94% to 24,578.85.

In the broader mar...