Mumbai, Nov. 27 -- The headline equity benchmarks reversed all losses and traded with small gains in mid-afternoon trade, swinging between gains and declines amid volatility. Optimism over potential U.S. and domestic interest rate cuts next month continued to underpin buying interest. The Nifty traded above the 26,200 level. Oil & gas stocks declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, jumped 112.28 points or 0.13% to 85,721.79. The Nifty 50 index rose 7.05 points or 0.03% to 26,212.35.

In the broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.14% and the S&P BSE Small-Cap index shed 0.39%.

The market breadth was negative. On the BSE, 1,9...