Mumbai, Feb. 5 -- The headline equity benchmark traded near the flatline with some negative points in the mid-afternoon trade as the Reserve Bank of India's monetary policy meeting began today, with expectations of an interest rate cut. The Nifty traded below the 23,750 mark. Consumer Durables shares slipped after advancing for the previous four consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 157.55 points or 0.20% to 78,416.21. The Nifty 50 index shed 2.65 points or 0.01% to 23,736.25.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.89% and the S&P BSE Small-Cap index added 1.51%.

The market breadth was strong. On the BSE, 2,627 shares rose and 1,249...