Mumbai, Dec. 22 -- The key equity benchmarks traded with strong gains in morning trade. Investors will keep track crucial economic data including US GDP data, scheduled later this week. Market participants are also closely monitoring rupee movement, FII activity, IPO-related developments, and global cues. The Nifty traded above the 26,000 level.

IT stocks extended their rally for a fourth consecutive session, leading sectoral gains.

At 10:25 ST, the barometer index, the S&P BSE Sensex, jumped 477.43 points or 0.56% to 85,408.29. The Nifty 50 index advanced 164.70 points or 0.63% to 26,131.10.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.74% and the S&P BSE Small-Cap index added 0.87%.

The mar...