Nifty above 22,700 level; media shares advance

The frontline indices traded with minor gains in early afternoon trade. 

The Nifty hovered above the 22,700 level. Media shares advanced after declining in the past four trading sessions. Trading was volatile due to the expiry of weekly index options on the NSE.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 208.82 points or 0.28% to 74,892.52. The Nifty 50 index added 58.80 points or 0.26% to 22,701.55.

In the broader market, The S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 0.12%.

The market breadth was negative. 

On the BSE, 1,684 shares rose and 1,906 shares fell. A total of 145 shares were unchanged.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.