Mumbai, April 3 -- The headline equity benchmarks traded with minor losses in mid-afternoon trade after the US president announced a tariff rate of 26% on imports into the US from India. The Nifty traded below the 22,300 level. Oil & gas shares declined after advancing for the past two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 294.91 points or 0.38% to 76,318.09. The Nifty 50 index shed 74.15 points or 0.32% to 23,257.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index added 0.63%.

The market breadth was strong. On the BSE, 2,698 shares rose and 1,195 shares fell. A total of 143 shares were unchanged.

Trump's Tariff Shock:

US President Do...