Mumbai, Sept. 29 -- The frontline benchmarks continued to trade with modest gains in the mid-morning trade as the Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC) began its three-day meeting, with investors eyeing potential rate cuts. The Nifty traded above the 24,700 level, while PSU Bank stocks advanced after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 253.11 points or 0.31% to 80,679.57. The Nifty 50 index rose 85.20 points or 0.35% to 24,739.75.

In the broader market, the S&P BSE Mid-Cap index added 0.37% and the S&P BSE Small-Cap index rose 0.15%.

The market breadth was weak. On the BSE, 2,159 shares rose and 1,744 shares fell. A total of 208 shares w...