Mumbai, Feb. 11 -- The headline equity indices traded with significant cuts in mid-afternoon trade following US President Donald Trump's announcement of 25% tariffs on steel and aluminum imports. The Nifty tumbled below the 23,050 mark. Sensex tanked over 1,100 pts. Consumer durables shares slumped in two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tumbled 1,119.75 points or 1.45% to 76,192.01. The Nifty 50 index dropped 352.45 points or 1.51% to 23,029.15.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 3.29%, and the S&P BSE Small-Cap index skid 3.80%.

The market breadth was weak. On the BSE, 465 shares rose and 3,497 shares fell. A total of 96 shares we...