Mumbai, Aug. 20 -- The frontline equity benchmarks traded with significant gains in mid-morning trade on Thursday, supported by positive global cues, a stronger rupee and short covering after the recent seven-session losing streak. The expiry of weekly Sensex derivatives contracts on the BSE also kept traders active, with position adjustments and rollover-related activity likely to influence intraday volatility. The Nifty traded above the 24,200 level. Media shares advanced after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex gained 485.29 points or 0.64% to 77,395.23. The Nifty 50 index jumped 124.25 points or 0.52% to 24,203.05.

The broader market outperformed the frontline indices. The BS...