Mumbai, Sept. 4 -- The key equity indices traded with small gains in the early afternoon trade after the government cut taxes on several goods as part of a major GST overhaul. The move aims to boost consumer spending ahead of the festive season and ease the impact of high U.S. tariffs, among other factors. Market participants' focus on GST reforms announced by the GST Council eclipsed the impact of the weekly expiry of Sensex F&O contracts. The Nifty traded above the 24,750 mark.

FMCG shares jumped after GST council reduced the rate from 12% and 18% to 5%. The index witnessed buying demand for the fifth consecutive trading session.

At 12:25 ST, the barometer index, the S&P BSE Sensex, rallied 237.16 points or 0.29% to 80,805.74. The Nif...