Mumbai, Jan. 31 -- The domestic equity indices traded with decent gains in early afternoon trade, supported by Larsen & Toubro's record high in new orders and anticipation of favorable moves in the upcoming Union Budget, which have bolstered market sentiment. The Nifty traded above the 23,400 level. FMCG shares extended gains for two consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, rallied 484.66 points or 0.63% to 77,240.51. The Nifty 50 index added 184.20 points or 0.79% to 23,433.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 1.36% and the S&P BSE Small-Cap index added 1.34%.

The market breadth was strong. On the BSE, 2,530 shares rose and 1,139 share...