Mumbai, April 7 -- The frontline indices traded with major losses in early afternoon trade, mirroring a global market rout driven by escalating trade tensions and mounting recession fears in the United States. The Nifty dropped below the 21,900 level. Realty shares extended losses for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, slumped 3,227.05 points or 4.28% to 72,137.64. The Nifty 50 index tanked 1,047.45 points or 4.58% to 21,855.85.

In the broader market, the S&P BSE Mid-Cap index dropped 4.61% and the S&P BSE Small-Cap index tumbled 5.96%.

Sellers outnumbered buyers. On the BSE, 342 shares rose and 3,582 shares fell. A total of 149 shares were unchanged.

The NSE's India VIX, a ga...