Mumbai, Dec. 31 -- The key equity benchmarks traded with significant gains in mid-afternoon trade on the last trading day of the year. Nifty climbed above 26,150 mark. Trading activity remained strong on positive expectations for the coming year. The Nifty traded above the 26,150 mark.

Oil & gas shares jumped after declining in the four consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex advanced 654.29 points or 0.77% to 85,327.39. The Nifty 50 index jumped 220.65 points or 0.85% to 26,161.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.97% and the S&P BSE Small-Cap index rose 1.05%.

The market breadth was strong. On the BSE, 2,759 shares rose and 1,376 shar...