Mumbai, Oct. 29 -- The headline equity benchmarks traded with modest gains in mid-afternoon trade. The Nifty traded above the 26,050 mark. Media stocks extended their gains for the second consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, surged 378.66 points or 0.45% to 85,013.54. The Nifty 50 index added 125.25 points or 0.48% to 26,062.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.59% and the S&P BSE Small-Cap index rose 0.57%.

The market breadth was positive. On the BSE, 2,466 shares rose and 1,638 shares fell. A total of 157 shares were unchanged.

Buzzing Index:

The Nifty Media index rose 1.41% to 1,560.15. The index gained 0.33% in the past two cons...