Mumbai, Jan. 6 -- The frontline equity indices traded modest losses in the early afternoon trade as investors weighed the risks of fresh U.S. tariffs against a steady stream of quarterly earnings reports that have kept hopes of an earnings recovery alive.

The Nifty traded below the 26,200 level. FMCG shares declined after advancing in the past trading session.

At 12:28 IST, the barometer index, the S&P BSE Sensex, tanked 447.65 points or 0.52% to 84,991.97. The Nifty 50 index declined 99.15 points or 0.36% to 26,151.15.

In the broader market, the S&P BSE Mid-Cap index fell 0.29% and the S&P BSE Small-Cap index dropped 0.43%.

The market breadth was weak. On the BSE, 1,548 shares rose and 2,389 shares fell. A total of 195 shares were un...