Mumbai, Aug. 28 -- The domestic equity indices traded with substantial losses in morning trade after the United States imposed an additional 25% tariff on Indian imports, which came into effect a day earlier. The Nifty traded below the 24,600 level.

IT shares extended losses for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 420.29 points or 0.52% to 80,366.05. The Nifty 50 index tumbled 120.66 points or 0.49% to 24,593.

In the broader market, the S&P BSE Mid-Cap index slipped 0.46% and the S&P BSE Small-Cap index fell 0.35%.

The market breadth was weak. On the BSE, 512 shares rose and 2,117 shares fell. A total of 224 shares were unchanged.

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