Mumbai, April 16 -- The key benchmark indices traded near the flat line with some positive bias in early afternoon trade. The Nifty traded tad above the 23,350 mark. Media shares extended gains for the third consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 43.68 points or 0.06% to 76,783.23. The Nifty 50 index added 24 points or 0.10% to 23,352.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.57% and the S&P BSE Small-Cap index rallied 0.91%.

The market breadth was strong. On the BSE, 2,575 shares rose and 1,177 shares fell. A total of 172 shares were unchanged.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatilit...