Mumbai, July 16 -- The key equity barometers erased a large part of their early gains, though they remained in positive territory during afternoon trade, supported by sustained buying in IT and select heavyweight stocks amid optimism surrounding the ongoing June-quarter earnings season. However, profit booking at higher levels capped the upside, with the Nifty slipping from the 24,150 mark to trade near the 24,105 level, near its intraday low of 24,097.05.

IT, media and consumer durables shares advanced while realty, PSU Bank and private bank shares declined.

At 13:25 IST, the S&P BSE Sensex advanced 175.90 points or 0.23% to 77,361.33. The Nifty 50 index added 27.70 points or 0.12% to 24,106.35.

In the broader market, the BSE 150 MidC...