Mumbai, May 25 -- The headline equity benchmarks traded with major gains in the afternoon trade, tracking a sharp fall in crude oil prices amid hopes of progress in U.S.-Iran negotiations and the possibility of an eventual deal between the two sides. Improved global risk sentiment and easing energy market concerns also supported investor confidence.

The Nifty traded above the 23,950 mark. Auto shares extended gains for the fifth consecutive trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, surged 840.73 points or 1.11% to 76,251.73. The Nifty 50 index zoomed 236.25 points or 1% to 23,955.45.

The broader market, the BSE 150 MidCap Index jumped 1.02% and the BSE 250 SmallCap Index gained 0.80%.

The market breadth wa...