Mumbai, Feb. 5 -- The key equity benchmarks traded sideways in afternoon trade as the Reserve Bank of India (RBI) began its three-day monetary policy meeting. Investors remain cautious, awaiting a widely anticipated rate cut aimed at boosting growth. With global trade uncertainties in the backdrop, all attention is focused on the RBI's decision, which is set to be announced on Friday. The Nifty traded marginally above the 23,750 mark.

Media, metal and oil & gas shares advanced while realty and FMCG stocks declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 140.22 points or 0.18% to 78,440.82. The Nifty 50 index advanced 13.05 points or 0.05% to 23,752.30.

The broader market outperformed the headline indices. The S...