Mumbai, June 22 -- The headline equity benchmarks traded with modest gains in the afternoon trade. The Nifty traded above the 24,100 level. Media shares extended gains for the third consecutive trading session.

At 12:26 IST, the barometer index, the S&P BSE Sensex gained 374.55 points or 0.49% to 77,177.13. The Nifty 50 index jumped 101.55 points or 0.41% to 24,113.90.

In the broader market, the BSE 150 MidCap Index rose 0.40% and the BSE 250 SmallCap Index rallied 0.67%.

The market breadth was negative. On the BSE, 2,624 shares rose and 1,557 shares fell. A total of 241 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.75% to 12.87. The Nifty 30 June...