Mumbai, Aug. 22 -- The headline equity indices traded with significant losses in the early afternoon trade, pausing a six-day winning streak driven by optimism surrounding Goods and Services Tax (GST) reforms. The cautious sentiment came as investors awaited Federal Reserve Chair Jerome Powell's policy remarks at the Jackson Hole symposium later in the day.

The Nifty traded below the 24,950 mark. Metal shares extended losses for the second consecutive trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, slumped 504.43 points or 0.63% to 81,496.28. The Nifty 50 index fell 156.36 points or 0.63% to 24,927.45.

In the broader market, the S&P BSE Mid-Cap index shed 0.03% and the S&P BSE Small-Cap index fell 0.14%.

The mar...