Mumbai, May 14 -- The domestic equity benchmarks traded with major gains in the afternoon, supported by value buying and optimism surrounding easing geopolitical tensions and ongoing US-China trade talks. Investors also remained focused on the ongoing Q4 earnings season.

The Nifty traded above the 23,700 level. All sectoral indices on the NSE traded in the green, barring the IT index, which remained under pressure.

At 13:30 IST, the barometer index, the S&P BSE Sensex surged 902.45 points or 1.22% to 75,539. The Nifty 50 index added 315.55 points or 1.34% to 23,724.30.

In the broader market, the BSE 150 MidCap Index climbed 0.71% and the BSE 250 SmallCap Index rose 0.08%.

The market breadth was negative. On the BSE, 2,016 shares rose...