Mumbai, Sept. 10 -- The benchmark indices traded sideways in afternoon trade as elevated crude oil prices weighed on the macroeconomic outlook. The Nifty traded below the 23,450 mark. Metals, pharma and IT shares declined while banks & financials managed to trade with some gains.

At 12:25 IST, the barometer index, the S&P BSE Sensex advanced 12.30 points or 0.02% to 74,776.53. The Nifty 50 index shed 3.85 points or 0.02% to 23,427.65.

In the broader market, the BSE 150 MidCap Index shed 0.34% and the BSE 250 SmallCap Index added 0.09%.

The market breadth was negative. On the BSE, 1,918 shares rose and 2,265 shares fell. A total of 245 shares were unchanged.

Gainers & Losers:

Power Grid Corp (up 1.94%), HDFC Life (up 1.83%), Bharti Ai...