Mumbai, Sept. 17 -- The key equity benchmarks traded with modest gains in early afternoon trade as investors assessed the US Fed's latest policy decision and its impact on global liquidity. The Nifty traded above the 23,300 level amid cautious sentiment over the stronger dollar and further rate-hike signals. Metal shares witnessed buying demand for the second consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 281.77 points or 0.38% to 74,618.22. The Nifty 50 index added 128.70 points or 0.55% to 23,346.30.

In the broader market, the BSE 150 MidCap Index jumped 1.03% and the BSE 250 SmallCap Index rose 0.97%.

The market breadth was positive. On the BSE, 2,633 shares rose and 1,435 shares fell. A to...