Mumbai, Aug. 13 -- The headline equity benchmarks traded with modest gains in early afternoon trade, tracking positive global cues. Upbeat domestic CPI data further boosted market sentiment. Investors are closely watching the ongoing earnings season, FII activity, and key macroeconomic data releases expected later this week.

The Nifty traded above the 24,600 level. Pharma shares extended gains for the third trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 226.02 points or 0.28% to 80,461.48. The Nifty 50 index added 108.40 points or 0.44% to 24,607.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.51% and the S&P BSE Small-Cap index added 0.41%.

The market breadth was positive. On the BSE 2,06...