Mumbai, April 27 -- The domestic equity benchmarks traded with major gains in the afternoon trade, with the Nifty 50 moving above the 24,100 level. Sentiment was supported by reports of Iran proposing a peace initiative to the US aimed at de-escalating ongoing geopolitical tensions, which boosted global risk appetite, along with steady Q4 earnings updates.

At 13:30 ST, the barometer index, the S&P BSE Sensex jumped 713.97 points or 0.93% to 77,373.64. The Nifty 50 index advanced 221.30 points or 0.93% to 24,117.30.

The broader market outperformed the frontliner indices. The BSE 150 MidCap Index jumped 1.51% and the BSE 250 SmallCap Index surged 2.02%.

The market breadth was strong. On the BSE, 3,008 shares rose and 1,184 shares fell. A...