Mumbai, July 2 -- The key equity benchmarks traded with major gains in the afternoon trade, supported by a sharp rally in IT stocks, a rebound in metal shares, and strength in the broader markets. Investor sentiment was further aided by easing crude oil prices amid ongoing Iran-US peace talks. However, market participants remained cautious, with volatility expected to stay elevated due to the weekly Sensex derivatives expiry. Nifty traded tad above the 24,150 mark. IT, consumer durables and realty shares advanced, while PSU bank shares declined.

At 13:30 ST, the barometer index, the S&P BSE Sensex jumped 432.75 points or 0.56% to 77,355.39. The Nifty 50 index rose 146.45 points or 0.61% to 24,152.30.

In the broader market, the BSE 150 M...