Mumbai, May 22 -- The headline equity benchmarks traded with strong gains in afternoon trade, supported by renewed hopes of an Iran-US peace deal and easing global concerns, which boosted investor sentiment. The Nifty traded above the 23,800 mark. Private bank, financial services, and auto stocks advanced, while media, healthcare, and pharma shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex jumped 536.24 points or 0.71% to 75,714.93. The Nifty 50 index surged 158.25 points or 0.67% to 23,812.65.

In the broader market, the BSE 150 MidCap Index rose 0.28% and the BSE 250 SmallCap Index added 0.02%.

The market breadth was strong. On the BSE, 2,320 shares rose and 1,666 shares fell. A total of 213 shares were unchanged...