India, March 20 -- The domestic equity benchmarks traded with modest gains in mid-afternoon trade aided by short-covering after sharp losses in the previous session. Sentiment was also supported by easing in crude oil prices. The Nifty traded above the 23,150 mark. Pharma shares advanced after declining in the past trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex surged 516.17 points or 0.70% to 74,723.41. The Nifty 50 index jumped 168 points or 0.73% to 23,171.10.

In the broader market, the BSE 150 MidCap Index added 0.81% and the BSE 250 SmallCap Index gained 0.64%.

The market breadth was strong. On the BSE, 2,644 shares rose and 1,525 shares fell. A total of 182 shares were unchanged.

The rupee hit a record low...