The key equity indices traded with strong gains in mid-afternoon trade. The Nifty traded near the 18,500 level. Media shares witnessed decent buying demand. 
At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 607.42 points or 0.98% to 62,480.04. The Nifty 50 index added 174.60 points or 0.95% to 18,495.75. 

In the broader market, the S&P BSE Mid-Cap index gained 0.69% while the S&P BSE Small-Cap index advanced 0.50%. 

The market breadth was positive. On the BSE, 1,948 shares rose and 1,476 shares fell. A total of 144 shares were unchanged. 

Numbers to track: 

The yield on India's 10-year benchmark federal paper fell 0.03% to 7.005 as compared with previous close of 7.007. 

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.6250, compared with its close of 82.7250 during the previous trading session. 

MCX Gold futures for 5 June 2023 settlement rose 0.15% to Rs 59,551. 

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% to 104.07. 

The United States 10-year bond yield declined 0.50% to 3.795. 

In the commodities market, Brent crude for July 2023 settlement shed 12 cents or 0.16% to $76.14 a barrel. 

Buzzing Index: 

The Nifty Media advanced 2.15% to 1,728.30. The index fell 0.06% in past trading session. 

Zee Entertainment Enterprises (up 5.9%), New Delhi Television (up 4.99%), PVR Inox (up 2.89%), Sun TV Network (up 1.18%), Hathway Cable & Datacom (up 0.74%), Network 18 Media & Investments (up 0.41%) and TV18 Broadcast (up 0.29%) advanced. 

On the other hand, Navneet Education (down 0.87%), Nazara Technologies (down 0.86%) and Dish TV India (down 0.7%)declined. 

Stocks in Spotlight: 

Nucleus Software Exports was locked in an upper circuit of 20% after the IT firm's consolidated net profit surged 76.45% to Rs 67.65 crore in Q4 FY23 from Rs 38.34 crore in Q3 FY22. Revenue from operations rose 34.74% quarter on quarter (QoQ) to Rs 206.20 crore during the quarter. 

Aster DM Healthcare slipped 2.31% after the company's consolidated net profit declined 24.5% to Rs 170.77 crore in Q4 FY23 from Rs 226.27 crore posted in Q4 FY22. Revenue from operations jumped 19.6% year on year to Rs 3,262.32 crore in the quarter ended 31 March 2023. 

Praj Industries rallied 4.96% after the company's consolidated net profit jumped 52.8% to Rs 88.11 crore on 20.8% increase in income from operations to Rs 1,003.98 crore in Q4 FY23 over Q4 FY22.