Mumbai, Feb. 2 -- The domestic equity indices traded with major gains in the mid- afternoon trade, rebounding from losses in a special weekend session, even as investors assessed the implications of the federal budget, which fell short of expectations on measures to attract foreign capital.

The Nifty traded above the 24,950 mark. Media shares extended losses for second consecutive trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex, jumped 539.29 points or 0.67% to 81,262.23. The Nifty 50 index rose 137.05 points or 0.55% to 24,962.50.

The broader market underperformed the frontline indices. The S&P BSE 150 Mid-Cap index fell 0.22% and the S&P BSE 250 Small-Cap index shed 0.68%.

The market breadth was negative. On ...