Mumbai, July 29 -- The key equity barometers traded with major gains in the early afternoon trade. Market sentiment was supported by upbeat corporate earnings, optimism over the earnings outlook, positive global cues, continued foreign fund inflows, and investor focus on the U.S. Federal Reserve's policy decision. Media shares advanced after declining in the past trading session. Nifty traded above the 24,200 level.

At 12:30 IST, the barometer index, the S&P BSE Sensex, surged 820.54 points or 1.07% to 77,586.46. The Nifty 50 index jumped 247.20 points or 1.03% to 24,232.95.

In the broader market, the BSE 150 MidCap Index rose 0.60% and the BSE 250 SmallCap Index rallied 1.12%.

The market breadth was positive. On the BSE, 2,514 shares ...