Mumbai, Oct. 23 -- The headline equity benchmarks traded with major gains in early afternoon trade, supported by robust quarterly earnings and renewed optimism over festive season demand. Investor sentiment was further lifted by recent tax cuts and policy measures, fuelling expectations that corporate profits will strengthen in the second half of FY26.

The Nifty traded above 26,050 mark. FMCG shares extended gains for the second consecutive trading session.

In the barometer index, the S&P BSE Sensex, surged 801.41 points or 0.95% to 85,227.75. The Nifty 50 index jumped 219.45 points or 0.85% to 26,088.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.42% and the S&P BSE Small-Cap index shed 0.02%.

The market breadth was pos...