Mumbai, May 13 -- The domestic equity benchmarks traded with modest gains in mid-afternoon trade amid value buying in beaten-down stocks, supported by strong gains in metal shares. Investors will monitor upcoming Q4 earnings. Nifty traded tad above the 23,500 level. FMCG shares advanced after witnessing declines in the previous trading session.

At 14:30 IST, the S&P BSE Sensex advanced 312.32 points or 0.42% to 74,871.56. The Nifty 50 index added 117.15 points or 0.52% to 23,501.25.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index climbed 1.21% and the BSE 250 SmallCap Index jumped 0.62%.

The market breadth was strong. On the BSE, 2,495 shares rose and 1,549 shares fell. A total of 202 shares were unchang...