Mumbai, July 11 -- The frontline indices continued to trade with major cuts in the mid-morning trade. The Nifty traded below the 25,200 level. Media stocks extended losses as selling pressure persisted for the fifth straight session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, declined 685.63 points or 0.82% to 82,504.65. The Nifty 50 index lost 186.85 points or 0.74% to 25,167.70.

In the broader market, the S&P BSE Mid-Cap index fell 0.76% and the S&P BSE Small-Cap index shed 0.78%.

The market breadth was negative. On the BSE, 1,319 shares rose and 2,379 shares fell. A total of 195 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Smartworks Coworking Spaces received bids for 72,65,520 shares as against...