Mumbai, June 23 -- The key equity indices traded with major losses in the mid-morning trade, weighed down by rising geopolitical tensions and a sharp selloff in IT stocks. Escalating conflict between the US and Iran, a spike in crude oil prices, and concerns over potential economic fallout triggered broad-based risk aversion among investors.

The Nifty traded below the 24,950 mark. Auto shares declined after rising for three consecutive sessions.

At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 568.08 points or 0.70% to 81,830.43. The Nifty 50 index slipped 164.20 points or 0.66% to 24,948.80.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index rose 0.17...