Mumbai, Aug. 6 -- The key equity indices traded with minor cuts in the early afternoon trade as the Reserve Bank of India kept the repo rate unchanged at 5.5% and maintained a neutral policy stance. The Nifty hovered below the 24,650 mark.

Pharma shares declined as Donald Trump plans to impose new tariffs on pharmaceuticals. The index tumbled in the past two trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex, dropped 20.01 points or 0.02% to 80,690.24. The Nifty 50 index declined 37.10 points or 0.14% to 24,613.60.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.79% and the S&P BSE Small-Cap index fell 1.12%.

The market breadth was weak. On the BSE, 1,204 shares rose a...