Mumbai, Oct. 14 -- The key equity indices traded with substantial losses in the early-afternoon trade. The Nifty traded below the 25,100 level. Media stocks declined after advancing in the past three consecutive trading sessions.

At 12:30 ST, the barometer index, the S&P BSE Sensex, dropped 454.57 points or 0.56% to 81,872.08. The Nifty 50 index declined 138.65 points or 0.55% to 25,089.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.84% and the S&P BSE Small-Cap index tanked 1.03%.

The market breadth was weak. On the BSE, 1,210 shares rose and 2,754 shares fell. A total of 176 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term,...