Mumbai, May 4 -- The key equity barometers traded with modest gains in early afternoon trade, as investors tracked state election results across Assam, Kerala, Puducherry, Tamil Nadu, and West Bengal, along with movements in crude oil and developments in the West Asia conflict. Elevated Brent crude prices, driven by tensions around the Strait of Hormuz, remain a key concern for inflation and the rupee, while corporate earnings present a mixed outlook. Meanwhile, the Nifty climbed above the 24,100 level. Metal shares rallied after declining in the past trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex jumped 446.52 points or 0.58% to 77,355.60. The Nifty 50 index rallied 135.55 points or 0.56% to 24,133.05.

In the br...