Mumbai, May 14 -- The key equity benchmarks traded with modest gains in morning trade, supported by positive cues from Asian markets. However, persistent foreign portfolio investor (FPI) outflows and ongoing geopolitical uncertainties continued to weigh on investor sentiment. Nifty traded above the 23,500 level. Pharma shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, advanced 228.50 points or 0.31% to 74,837.48. The Nifty 50 index rose 98.85 points or 0.42% to 23,511.40.

In the broader market, the BSE 150 MidCap Index jumped 0.13% and the BSE 250 SmallCap Index fell 0.33%.

The market breadth was negative. On the BSE, 1,700 shares rose and 1,976 shares fell. A total...