Mumbai, April 7 -- The headline equity indices traded with deep cuts in mid-afternoon trade, mirroring a global market rout driven by escalating trade tensions and mounting recession fears in the United States. The Nifty traded below the 22,050 mark.

Auto shares extended losses for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, slumped 2,728.37 points or 3.62% to 72,636.32. The Nifty 50 index tanked 887.15 points or 3.87% to 22,017.30.

The broader market underperformed the frontline indices, the S&P BSE Mid-Cap index dropped 4.04% and the S&P BSE Small-Cap index tumbled 4.91%.

Sellers outnumbered buyers. On the BSE, 400 shares rose and 3,635 shares fell. A total of 139 shares were unchang...