Mumbai, Nov. 5 -- Key equity benchmarks extended their gains in afternoon trade, with the Nifty 50 crossing the 24,450 mark. The rally was supported by a sharp decline in crude oil prices, hopes of an early resolution to the US-Iran conflict following the Democrats' midterm election victories and easing bond yields. Sustained foreign investor buying and reduced concerns over US tariffs also boosted sentiment. Broader markets advanced, India VIX declined and most sectoral indices traded higher.

At 13:30 IST, the S&P BSE Sensex jumped 1810.30 points or 2.34% to 79,111.70. The Nifty 50 index surged 523.65 points or 2.19% to 24,484.25.

In the broader market, the BSE 150 MidCap Index gained 2.03% and the BSE 250 SmallCap Index added 1.10%. ...