Mumbai, Oct. 15 -- The key equity benchmarks traded with major gains in early afternoon trade, supported by a strengthening rupee and easing global bond yields and crude oil prices. The market sentiment remained positive as investors tracked September-quarter earnings, with the Nifty traded above the 22,950 mark. Private bank shares advanced after declining in the past trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex surged 1,243.22 points or 1.70% to 74,034.18. The Nifty 50 index jumped 334.75 points or 1.49% to 22,963.65.

In the broader market, the BSE 150 Midcap Index shed 0.22% and the BSE 250 Smallcap Index declined 0.75%.

The market breadth was negative. On the BSE, 1,712 shares rose and 2,375 shares fell. A...