Mumbai, Feb. 4 -- The key equity barometers extended gains and hit a fresh day's high in afternoon trade, following gains in Asian markets. This came after the U.S. paused its planned tariffs on Canada and Mexico, which helped alleviate concerns about a potential global trade war. The Nifty marched above the 23,650 mark. Oil & gas, PSU bank and metal shares advanced while FMCG, consumer durables and realty stocks corrected.

At 13:28 IST, the barometer index, the S&P BSE Sensex, rallied 988.12 points or 1.28% to 78,174.86. The Nifty 50 index advanced 290.80 points or 1.24% to 23,651.85.

In the broader market, the S&P BSE Mid-Cap index rose 0.87% and the S&P BSE Small-Cap index added 0.73%.

The market breadth was strong. On the BSE, 2,36...