Mumbai, Sept. 8 -- The headline equity benchmarks traded with decent gains in afternoon trade, driven by optimism after the GST Council announced big tax cuts. At the same time, weak U.S. job numbers raised hopes that the Federal Reserve will cut interest rates, helping to boost the market. The Nifty traded above the 24,850 mark.

Auto, metal and realty shares advanced while IT, consumer durables and FMCG stocks declined.

At 12:30 IST, the barometer index, the S&P BSE Sensex gained 355.02 points or 0.44% to 81,058.17. The Nifty 50 index rose 115.85 points or 0.47% to 24,857.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.69% and the S&P BSE Small-Cap index jumped 0.54%.

The market breadth was...