Mumbai, Oct. 23 -- Equity benchmarks surged sharply in morning trade, supported by robust quarterly earnings and renewed optimism over festive season demand. Investor sentiment was further lifted by recent tax cuts and policy measures, fueling expectations that corporate profits will strengthen in the second half of FY26.

The Nifty traded above the 26,050 mark. IT shares extended gains for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, surged 761.82 points or 0.92% to 85,188.16. The Nifty 50 index jumped 217.82 points or 0.83% to 26,086.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.49% and the S&P BSE Small-Cap index shed 0.01%.

The market breadth was positive. On the BSE, 2...