Mumbai, Aug. 3 -- The key equity barometers traded with major gains in early afternoon trade, supported by positive global cues, a sharp decline in crude oil prices, encouraging quarterly earnings and renewed foreign fund inflows. IT shares advanced after declining for previous session. The Nifty traded above the 24,600 level.

At 12:28 IST, the S&P BSE Sensex, jumped 677.53 points or 0.87% to 78,772.14. The Nifty 50 index rose 219.95 points or 0.90% to 24,603.55.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.99% and the BSE 250 SmallCap Index rose 1.51%.

The market breadth was strong. On the BSE, 2,937 shares rose and 1,256 shares fell. A total of 222 shares were unchanged.

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