Mumbai, Jan. 31 -- The equity barometers traded with significant gains in the mid-afternoon trade, supported by a strong set of earnings from TCPL, Nestle, and L&T. Anticipation of favorable moves in the upcoming Union Budget, which have also bolstered market sentiment. The Nifty hovered above the 23,400 level.

Auto shares extended gains for the fourth consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, rallied 519.78 points or 0.68% to 77,279.59. The Nifty 50 index added 187.85 points or 0.81% to 23,437.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 1.22% and the S&P BSE Small-Cap index added 1.34%.

The market breadth was strong. On the BSE, 2,560 shares ...