Mumbai, Jan. 7 -- The key equity indices traded minor cuts in the mid-morning as geopolitical tensions and tariff-related concerns tempered optimism over the earnings outlook, keeping the Sensex and Nifty just shy of record highs.

The Nifty traded below 26,150 mark. IT shares extended gains for second consecutive trading sessions.

At 11:29 ST, the barometer index, the S&P BSE Sensex, declined 120.12 points or 0.15% to 84,938.44. The Nifty 50 index fell 32.50 points or 0.09% to 26,146.20.

In the broader market, the S&P BSE Mid-Cap index added 0.30% and the S&P BSE Small-Cap index rose 0.04%.

The market breadth was positive. On the BSE, 1,983 shares rose and 1,836 shares fell. A total of 22 shares were unchanged.

Buzzing Index:

The Ni...