Mumbai, Aug. 18 -- The frontline indices traded with significant gains in the afternoon trade, supported by hopes of big changes to the GST system and a recent upgrade to India's credit rating. On the occasion of Independence Day, Prime Minister Narendra Modi said the government plans to bring "generational" GST reforms before Diwali, which could benefit sectors like auto, FMCG, and consumer goods. However, global worries remain, including the Russia-Ukraine conflict and possible 25% US tariffs on Indian products starting August 27. The Nifty traded above the 24,850 mark.

At 13:35 IST, the barometer index, the S&P BSE Sensex, surged 851.34 points or 1.06% to 81,449.00. The Nifty 50 index jumped 295.30 points or 1.02% to 24,926.30.

The b...