Mumbai, Aug. 4 -- The domestic equity benchmarks traded with modest cuts in mid-afternoon trade, as investors remained cautious ahead of the Reserve Bank of India's (RBI) monetary policy decision. The Nifty traded a tad above 24,550 mark. Metal shares declined after advancing in the past two trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 638.27 points or 0.82% to 78,732.91. The Nifty 50 index fell 307.95 points or 1.24% to 24,466.35.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.01% and the BSE 250 SmallCap Index jumped 0.38%.

The market breadth was negative. On the BSE, 2,067 shares rose and 2,097 shares fell. A total of 198 shares were unchanged.

RBI MPC meetin...