Mumbai, June 12 -- The key equity indices witnessed major cuts in afternoon trade amid feeble global cues. Investors are currently evaluating the U.S.-China trade agreement while closely observing rising U.S.-Iran tensions, which have led to elevated oil prices. The Nifty traded above the 25,100 level.

Metal shares extended losses for the second consecutive session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, tanked 780.56 points or 0.95% to 81,734.58. The Nifty 50 index slipped 244.35 points or 0.97% to 24,897.05.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.35% and the S&P BSE Small-Cap index fell 1.38%.

The market breadth was weak. On the BSE, 1,217 shares rose and 2,736 s...