The key equity barometers traded with slight gains in morning trades. Nifty moved in a range of 23281-23116. Nifty FMCG, Nifty Media and Nifty PSU Bank shares gained, while Nifty IT and Nifty Pharma shares fell.

NIFTY edged up 0.53% in last session and tanked 4.81% over last one-week.

At 12:15 IST, the barometer index, the S&P BSE Sensex, moved higher by 347.89 points or 0.47% to 74,351.71. The Nifty 50 index inched up 104.65 points or 0.45% to 23,223.25.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index inched down 0.04% and the BSE 250 SmallCap Index posted modest losses of 0.34%.

The market breadth was unfavorable. On the BSE, 2014 shares advanced and 2808 shares retreated. A total of 229 shares were unchanged.

Nifty FMCG index gained 1.80% to 45635. The index has retreated 6.81% in last one month and slumped 20.73% over last one year. Patanjali Foods, adding 4.48%, led the gainers followed by Colgate-Palmoliv, edging up 3.58% and Marico, inching higher 3.17%, respectively. Out of 15 index constituents, 13 are reporting gains today.

Nifty Media index climbed 1.35% to 1524. The index has lost 5.76% in last one month and inched down 6.80% over last one year. Zee Entertainmen, gaining 4.69%, led the gainers followed by Prime Focus, up 2.74% and PVR Inox, up 2.52%, respectively. Out of 10 index constituents, 8 are reporting gains today.

Nifty IT index slipped 1.07%. The index has inched lower by 4.07% in last one month and registered heavy losses of 17.68% over last one year. Coforge, down 2.12%, led the losers followed by Wipro, edging lower 1.74% and TCS, easing 1.63%, respectively. Out of 10 index constituents, 9 are reporting loss today.

Asian markets climbed on Wednesday. China’s Shanghai composite is trading higher by 0.74%, Hong Kong’s Hang Seng is up 0.07%. Japan’s Nikkei 225 is ahead by 0.69%.

In Europe, German DAX posted modest gains of 0.26%, UK’s FTSE 100 drifted lower 0.37% and French CAC eased 0.34%.

In Commodities, MCX Gold edged higher by 0.65% to trade at Rs 1,50,825 per 10 grams. MCX Crude oil declined 1.87% to trade at Rs 10,218 per barrel.