Mumbai, April 6 -- The headline equity benchmarks traded with major gains in mid-afternoon trade, reversing early losses, amid media reports of a potential geopolitical de-escalation involving Iran and the United States. However, market participants will monitor RBI's meeting policy outcome. Nifty traded above the 22,900 level after hitting the day's low of 22,542.95 in mid-morning trade. Consumer durables shares advanced after declining in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, advanced 597.35 points or 0.78% to 73,916.88. The Nifty 50 index rose 199.15 points or 0.88% to 22,912.25.

In the broader market, the BSE 150 MidCap Index surged 1.26% and the BSE 250 SmallCap Index rallied 0.92%.

The m...