The key equity barometers traded with significant losses in mid-afternoon trade. The Nifty traded slipped below the 22,400 level. PSU bank shares slipped after gaining in the past seventh consecutive trading sessions.

At 14:29 IST, the barometer index, the S&P BSE Sensex, slipped 503.51 points or 0.68% to 73,615.88. The Nifty 50 index lost 127.30 points or 0.57% to 22,366.25.

In the broader market, S&P BSE Mid-Cap index shed 0.21% and the S&P BSE Small-Cap index tumbled 1.69%.

The market breadth was weak. On the BSE, 948 shares rose and 2,976 shares fell. A total of 133 shares were unchanged.

Economy:

Continuing the gaining streak, India’s forex reserves surged $6.55 billion to $625.626 billion during the week ended March 1, according to the latest RBI data.

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  Metal stocks may slide on weak Chinese data
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  Strong market breadth