Mumbai, April 1 -- The key equity benchmarks traded with major gains in the 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 22,800 level.

At 13:30 ST, the barometer index, the S&P BSE Sensex, surged 1,634.67 points or 2.27% to 73,582.22. T...