Mumbai, April 1 -- The domestic equity benchmarks traded with major gains in the mid- afternoon trade, tracking a global market rally amid hopes of easing Middle East tensions involving Iran. Sentiment improved after Donald Trump said the conflict could end within three weeks, while Iran signaled willingness to resolve the crisis.

The positive geopolitical cues boosted investor confidence across regions. Meanwhile, the U.S. dollar remained under pressure and Treasury prices continued to rise. Additionally, the start of a new month, quarter, financial year, and F&O series supported fresh market positioning. The Nifty traded above the 22,700 level. Pharma shares extended losses for third consecutive trading session.

At 14:30 IST, the bar...