The key equity barometers traded with modest gains in early trade. Nifty opened at 23016 and hit a high of 23086 in first half hour of trade. Nifty IT, Nifty 50 and Nifty Realty shares advanced, while Nifty Media shares retreated.

At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 766.70 points or 1.04% to 74,619.60. The Nifty 50 index increased by 187.65 points or 0.82% to 23,076.60.

The broader market lagged behind the frontline indices. The BSE 150 MidCap Index edged higher by 0.01% and the BSE 250 SmallCap Index posted modest losses of 0.46%.

The market breadth was weak. On the BSE, 1818 shares gained and 1997 shares fell. A total of 251 shares were unchanged.

Nifty IT index rallied 2.39% to 32270. The index has added 9.31% in last one month and fell 10.70% over last one year. Wipro, adding 3.27%, led the gainers followed by Infosys, edging up 2.81% and TCS, gaining 1.99%, respectively. All 10 constituents are advancing today.

Nifty 50 index inched up 0.82% to 23077. The index has inched lower by 2.24% in last one month and shed 11.43% over last one year. UltraTech Cem., up 2.83%, led the gainers followed by Infosys, inching higher 2.81% and TCS, up 1.99%, respectively. Out of 50 index constituents, 42 are reporting gains today.

Nifty Media index lost 0.60%. The index has gained 5.65% in last one month and edged higher by 7.24% over last one year. Tips Music, easing 3.24%, led the losers followed by Prime Focus, down 2.74% and MPS, slipping 1.52%, respectively. Out of 10 index constituents, 8 are reporting loss today.

In NIFTY500, L&T Technology is the top gainer today, surging 12.25% to Rs 4051.95. The counter has lost 14.01% in last one year. It recorded an average volume quantity of 8669.17 in last five sessions compared to 5854.90 over last one month.

Asian markets traded slightly higher on Wednesday. China’s Shanghai composite is marginally lower by 0.31%, Hong Kong’s Hang Seng is modestly lower by 0.38%. Japan’s Nikkei 225 is trading higher by 0.95%.