Mumbai, Dec. 5 -- The key equity benchmarks traded near modest gains in mid-morning trade after the RBI trimmed the repo rate by 25 basis points to 5.25%. The Nifty traded near the 26,150 mark. Traders are tracking ongoing IPO activity, crude oil trends and global cues. Market participants are also looking ahead to the US Personal Consumption Expenditure data scheduled for release on Friday, which could influence Fed policy.

PSU Bank shares witnessed buying demand for second consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, advanced 377.43 points or 0.44% to 85,642.75. The Nifty 50 index jumped 115.75 points or 0.44% to 26,149.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.12% and the S&P ...