Mumbai, Jan. 2 -- The headline equity benchmarks traded with major gains in early afternoon trade. The Nifty traded near the 26,300 level. Consumer Durables shares extended gains for three consecutive trading session.

At 12:28 IST, the barometer index, the S&P BSE Sensex advanced 471.50 points or 0.55% to 85,661.29. The Nifty 50 index climbed 151.80 points or 0.58% to 26,300.15.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.78% and the S&P BSE Small-Cap index gained 0.68%.

The market breadth was strong. On the BSE, 2,586 shares rose and 1,375 shares fell. A total of 199 shares were unchanged.

Economy:

The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) - a singl...