Mumbai, Nov. 2 -- The key equity benchmarks pared gains on Monday, with the Nifty retreating from the 23,300 level as traders booked profits at higher levels. However, the underlying sentiment remained firm. Falling crude oil prices, strong Q2 earnings from Reliance Industries and Jio Platforms, and renewed foreign investor buying supported the rally. Expectations of long-term capital gains tax relief, a stronger rupee and easing bond yields also lifted sentiment. Weakness in global AI-linked stocks further supported Indian equities.

At 13:30 IST, the S&P BSE Sensex jumped 595.89 points or 0.80% to 75,055.42. The Nifty 50 index rose 169.10 points or 0.73% to 23,222.20.

In the broader market, the Nifty MidCap 150 Index gained 0.95% and t...