Mumbai, June 17 -- The headline equity benchmarks traded with moderate losses in early afternoon trade, amid rising geopolitical tensions between Israel and Iran. Market sentiment remains cautious, with geopolitical factors likely to shape further movement. Investors will closely track crude oil prices, the G7 summit, upcoming Bank of Japan's policy decision and the outcome of the upcoming U.S. Federal Reserve meeting later this week.

The Nifty traded below the 24,900 level. Metal shares declined after advancing for previous trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 257.07 points or 0.31% to 81,537.48. The Nifty 50 index fell 90.55 points or 0.35% to 24,858.25.

In the broader market, the S&P BSE Mi...