Mumbai, Jan. 29 -- The key equity benchmarks traded with significant gains and hit a fresh day's high in the mid-afternoon trade as investors waited for the US Federal Reserve's interest rate decision later today and the Union Budget this weekend. The Nifty traded near the 23,150 mark. Realty shares witnessed buying demand for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, rallied 585.53 points or 0.78% to 76,495.74. The Nifty 50 index advanced 191.25 points or 0.83% to 23,148.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 2.23% and the S&P BSE Small-Cap index rallied 2.79%.

The market breadth was strong. On the BSE, 2,909 shares rose and 1,012 ...