Mumbai, Oct. 15 -- The key equity benchmarks traded with significant gains in mid-afternoon trade, supported by a stronger rupee, easing crude oil prices and a pullback in US Treasury yields. The Nifty traded above the 23,000 mark.

PSU Bank shares declined after advancing in the past two trading sessions.

At 13:22 IST, the S&P BSE Sensex surged 1,377.87 points or 1.89% to 74,159.76. The Nifty 50 index jumped 390.40 points or 1.73% to 23,016.75.

In the broader market, the BSE 150 Midcap Index shed 0.20% and the BSE 250 Smallcap Index declined 0.75%.

The market breadth was negative. On the BSE, 1,751 shares rose and 2,509 shares fell. A total of 241 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index declined 1.25% to 8,065...