Mumbai, June 19 -- The headline equity benchmarks traded near the flatline with some negative points in early afternoon trade, amid ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events.

The Nifty traded below the 24,850 mark. Media stocks slipped for the third straight trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex shed 23.97 points or 0.04% to 81,412.43. The Nifty 50 ...