Mumbai, July 2 -- Domestic equity benchmarks traded with substantial gains in mid-afternoon trade, led by a sharp rally in IT stocks. Sentiment was further supported by easing crude oil prices amid ongoing Iran-US peace talks. However, investors remained cautious, with volatility expected to stay elevated due to the weekly Sensex derivatives expiry. The Nifty traded above the 24,150 mark, while auto stocks extended gains for the third consecutive session.

At 14:30 ST, the barometer index, the S&P BSE Sensex jumped 469.37 points or 0.61% to 77,392.01. The Nifty 50 index rose 146.15 points or 0.62% to 24,152.35.

In the broader market, the BSE 150 MidCap Index added 0.54% and the BSE 250 SmallCap Index rose 0.75%.

The market breadth was p...