Mumbai, June 16 -- The headline equity benchmarks traded with significant gains in the mid-afternoon trade amid US and Iran reached a ceasefire agreement. Softer crude oil prices, easing geopolitical concerns, and a stronger rupee supported investor sentiment. Market participants will continue to watch monsoon developments, FII activity, and inflation trends for further direction.

Nifty traded above the 23,950 mark. FMCG shares extended gains for the third consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex jumped 540.43 points or 0.71% to 76,804.76. The Nifty 50 index gained 136.30 points or 0.57% to 23,986.40.

In the broader market, the BSE 150 MidCap Index gained 0.20% and the BSE 250 SmallCap Index ro...