Mumbai, July 25 -- The frontline indices traded with major cuts in the afternoon trade. The Nifty traded below the 24,900 level. Media, auto and metal shares declined, while pharma shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 597.16 points or 0.73% to 81,577.05. The Nifty 50 index declined 198 points or 0.79% to 24,863.55.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.27% and the S&P BSE Small-Cap index tanked 1.55%.

The overall market breadth was weak, with more stocks declining than advancing. On the BSE, 1,049 stocks advanced, 2,847 declined, and 153 remained unchanged.

Economy:

India and the United Kingdom have signed the Comprehensive Economic and Trad...