Mumbai, June 15 -- The key equity barometers traded with significant gains in early afternoon trade, tracking global risk-on sentiment after reports of a US-Iran peace framework and a sharp decline in crude oil prices. Investor sentiment improved across emerging markets, with India benefiting from easing inflation and external balance concerns due to lower oil costs. The rupee strengthened sharply against the US dollar amid improved risk appetite and expectations of foreign fund inflows, supported by easing geopolitical tensions and a decline in global crude benchmarks.

The Nifty traded near the 23,900 level. Consumer Durables shares extended gains for second consecutive trading session.

At 12:28 IST, the barometer index, the S&P BSE Se...