Mumbai, Feb. 4 -- The domestic equity benchmarks traded sideways in the afternoon trade as investors engaged in profit-booking following Tuesday's sharp rally on Dalal Street spurred by the India-US trade deal. Market caution was further reinforced by escalating geopolitical tensions between the U.S. and Iran, prompting participants to reassess near-term risk exposure.

The Nifty traded above the 25,700 level. Consumer durables shares extended gains for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, shed 24.75 points or 0.03% to 83,714.38. The Nifty 50 index rose 16.45 points or 0.05% to 25,739.55.

In the broader market, the S&P BSE 150 MidCap Index rose 0.33% and the S&P BSE 250 SmallCap I...