Mumbai, July 3 -- The frontline equity benchmarks traded with modest gains in mid-afternoon trade, tracking positive global cues after weaker-than-expected US jobs data strengthened expectations of a Federal Reserve interest rate cut at its upcoming policy meeting. Improved global risk sentiment supported broad-based buying, with IT stocks leading the advance on hopes of a more accommodative US monetary policy.

The Nifty traded above the 24,250 mark. Metal shares extended gains for the second consecutive trading session.

At 14:30 ST, the barometer index, the S&P BSE Sensex jumped 289.67 points or 0.37% to 77,791.79. The Nifty 50 index rose 97.55 points or 0.40% to 24,273.25.

In the broader market, the BSE 150 MidCap Index fell 0.24% an...