Mumbai, April 1 -- The key equity benchmarks continued to trade with major cuts in mid-afternoon trade, amid concerns over U.S. President Donald Trump's tariff announcements on April 2, which could impact overall market sentiment. The Nifty traded near the 22,150 mark. Bank shares extended losses for two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 1,438.60 points, or 1.86%, to 75,976.32. The Nifty 50 index tumbled 367.25 points, or 1.56%, to 23,151.40.

In the broader market, the S&P BSE Mid-Cap index declined 1.23%, and the S&P BSE Small-Cap index shed 0.12%.

The market breadth was strong. On the BSE, 2,519 shares rose and 1,403 shares fell. A total of 157 shares were unchanged.

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