Benchmark indices further extended gains and hit the day's high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, rallied 263.21 points or 0.57% at 46,269.90. The Nifty 50 index advanced 80.95 points or 0.60% at 13,547.25. In the broader market, the S&P BSE Mid-Cap index gained 1.47% while the S&P BSE Small-Cap index added 2.19%. The market breadth was strong. On the BSE, 2,083 shares rose and 643 shares fell. A total of 146 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.10% to 21.7425. The Nifty December 2020 futures were trading at 13,551.10, at a premium of 14.75 points compared with the spot at 13,536.35.