Mumbai, Oct. 9 -- The key equity benchmarks traded with major gains in early afternoon trade, supported by easing crude oil prices after US President Donald Trump ruled out near-term strikes on Iran. The positive sentiment helped the Sensex and Nifty recover some of their losses from Thursday's sharp selloff, which wiped out more than Rs 10 lakh crore in Dalal Street wealth. The Nifty traded above the 22,450 level.

Auto shares advanced after declining in the past two trading sessions.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 752.28 points or 1.05% to 72,345.52. The Nifty 50 index rose 242.55 points or 1.09% to 22,474.

In the broader market, the Nifty MidCap 150 Index gained 1.10% and the Nifty SmallCap 250 Index ros...