Mumbai, Dec. 8 -- The domestic equity indices traded with moderate losses in the early afternoon trade. The Nifty traded below the 26,050 mark. Media shares witnessed selling pressure for the 3rd consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex dropped 409.28 points or 0.48% to 85,303.09. The Nifty 50 index lost 160.55 points or 0.62% to 26,024.90.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index tanked 1.33% and the S&P BSE Small-Cap index fell 1.67%.

The market breadth was weak. On the BSE, 1,056 shares rose and 3,016 shares fell. A total of 221 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near t...