Mumbai, May 30 -- The key equity indices traded with modest losses in the early afternoon trade, as strong foreign portfolio investor (FPI) inflows and optimism over domestic growth were offset by caution ahead of the upcoming GDP data release. The Nifty traded below the 24,800 level. IT shares slipped after advancing in the past trading session.

At 12:30 ST, the barometer index, the S&P BSE Sensex, slipped 267.20 points or 0.33% to 81,365.82. The Nifty 50 index fell 81.85 points or 0.33% to 24,752.

In the broader market, the S&P BSE Mid-Cap index shed 0.34% and the S&P BSE Small-Cap index added 0.16%.

The market breadth was negative. On the BSE, 1,665 shares rose and 2,125 shares fell. A total of 179 shares were unchanged.

Derivative...