Mumbai, May 9 -- The headline equity indices traded with major losses in mid-afternoon trade, as escalating tensions between India and Pakistan-intensified by the ongoing Operation Sindoor-kept investors on edge. Market sentiment is likely to remain volatile in the near term, driven by uncertainty surrounding geopolitical developments and upcoming U.S. trade policy updates. The Nifty slipped below the 24,000 level.

private bank shares extended losses for the second consecutive trading session.

At 14:26 IST, the barometer index, the S&P BSE Sensex, dropped 982.98 points or 1.22% to 79,355.02. The Nifty 50 index tumbled 291.35 points or 1.20% to 23,982.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.53% and the S&P BSE Small-...