Mumbai, May 19 -- The domestic equity benchmarks traded with decent gains in early afternoon trade, supported by upbeat global markets. Sentiment stayed positive as tensions in West Asia showed signs of cooling. Meanwhile, the rupee depreciated following another increase in fuel prices by the government.

The Nifty traded above the 23,700 level. Media shares extended losses for two consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 303.20 points or 0.40% to 75,628.46 The Nifty 50 index added 88.30 points or 0.37% to 23,738.25.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.13% and the BSE 250 SmallCap Index jumped 1.27%.

The market breadth was strong. On t...