Mumbai, Nov. 6 -- The key equity benchmarks extended gains in afternoon trade on Friday, defying a global sell-off in AI-linked stocks, as sustained buying by foreign institutional investors (FIIs) lifted sentiment. The Nifty crossed the 24,700 level. FIIs were net buyers of equities worth Rs 14,974.68 crore on Thursday. Positive sentiment ahead of the Diwali celebrations and the ongoing festive season further underpinned the rally, while relatively stable crude oil prices also helped. Pharma stocks were in demand as the global tech rout drove a rotation into domestic defensives.

At 13:30 IST, the S&P BSE Sensex jumped 882.66 points or 1.11% to 80,192.67. The Nifty 50 index rose 202.95 points or 0.83% to 24,739.55.

In the broader market...