Mumbai, Nov. 2 -- The key equity benchmarks traded with major gains in the early afternoon trade driven by falling oil prices and strong Q2 result of Reliance Industries. The Nifty traded above the 23,300 level.

Consumer durables shares advanced after declining in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 965.71 points or 1.30% to 75,425.24. The Nifty 50 index rose 285.05 points or 1.24% to 23,338.15.

In the broader market, the Nifty MidCap 150 Index gained 1.28% and the Nifty SmallCap 250 Index added 1.53%.

The market breadth was strong. On the BSE, 2,478 shares rose and 981 shares fell. A total of 98 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expect...