Mumbai, Sept. 4 -- The domestic equity indices traded with major gains in early trade after the government announced significant GST rate cuts aimed at boosting festive season consumption and offsetting the impact of steep U.S. tariffs.

The Nifty traded above the 24,900 level. Auto, FMCG and Financial Services shares advanced while metal, IT and pharma shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, rallied 649.96 points or 0.81% to 81,231.79. The Nifty 50 index added 196.45 points or 0.81% to 24,914.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.42% and the S&P BSE Small-Cap index added 0.55%.

The market breadth was strong. On the BSE, 2,088 shares rose and 924 shares fell. A total of 198 shares w...