Mumbai, May 9 -- The frontline indices traded with major losses in early afternoon trade, as escalating tensions between India and Pakistan-intensified by the ongoing Operation Sindoor-kept investors on edge. Market sentiment is likely to remain volatile in the near term, driven by uncertainty surrounding geopolitical developments and upcoming U.S. trade policy updates. The Nifty slipped below the 24,050 mark.

PSU bank shares advanced after retreating in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, dropped 799.19 points or 0.99% to 79,535.62. The Nifty 50 index tumbled 256.45 points or 1.06% to 24,018.

In the broader market, the S&P BSE Mid-Cap index fell 0.58% and the S&P BSE Small-Cap index dro...