Mumbai, April 4 -- The domestic equity benchmarks traded with major losses in the morning trade, reflecting a global sell-off triggered by US President Donald Trump's announcement of reciprocal tariffs. This move led to increased market volatility worldwide, impacting investor sentiment in India. The Nifty traded below the 23,000 level. Pharma shares declined after advancing for the past two consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, slumped 812.54 points or 1.06% to 75,482.82. The Nifty 50 index declined 281.85 points or 1.21% to 23,968.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slumped 3.17% and the S&P BSE Small-Cap index slipped 3.30%.

The market b...