Mumbai, May 8 -- The frontline indices traded sideways in early afternoon 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.

Media shares extended gains for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 45.17 points or 0.06% to 80,791.95. The Nifty 50 index lost 11.20 points or 0.05% to 24,402.20.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.19% and the S&P BSE Small-Cap inde...