Mumbai, Jan. 21 -- The headline equity benchmarks traded with modest cuts in mid-afternoon trade as persistent foreign fund outflows, uneven corporate earnings, and lingering concerns over global trade and geopolitics weighed on investor sentiment. A sharp rise in the India VIX signaled heightened volatility expectations as investors stayed on the sidelines ahead of key Q3 earnings outcomes and cues from the World Economic Forum.

The Nifty traded below the 25,150 mark. Realty shares extended losses for the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, dropped 299.07 points or 0.36% to 81,881.40. The Nifty 50 index lost 102.80 points or 0.41% to 25,140.15.

The broader market underperformed the...