Mumbai, July 15 -- The key equity benchmarks witnessed strong gains in early trade supported by positive global cues after softer-than-expected U.S. inflation data eased concerns over further interest rate hikes by the Federal Reserve. Improved global risk sentiment and buying across frontline stocks lifted the domestic indices, with the Nifty trading above the 24,200 mark.

Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.

PSU bank shares rebunded after declining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex ...