Mumbai, Jan. 27 -- The domestic equity benchmarks traded with significant losses in early afternoon trade, driven by worries over disappointing corporate earnings, uncertainty around U.S. trade policy, and persistent foreign outflows. The Nifty tanked below the 22,950 mark. Pharma shares extended losses for the two consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, tumbled 499.19 points or 0.66% to 75,692.19. The Nifty 50 index declined 160.40 points or 0.69% to 22,934.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 2.28%, and the S&P BSE Small-Cap index slipped 3.29%.

The market breadth was weak. On the BSE, 522 shares rose and 3,423 shares fell. A total of ...