Mumbai, May 8 -- The key equity indices traded sideways in mid-morning trade, as Fed Chair Jerome Powell cautioned that persistent tariff hikes could slow growth and drive long-term inflation. Investor sentiment was also weighed down by rising Indo-Pak tensions. The Nifty traded below the 24,450 mark. Market volatility was heightened due to the weekly expiry of the Nifty F&O series today.

Pharma shares witnessed selling pressure for the third consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 74.78 points or 0.09% to 80,821.56. The Nifty 50 index lost 2.60 points or 0.01% to 24,411.80.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-...