India, March 24 -- The key equity benchmarks traded with significant gains in early afternoon trade, supported by positive global sentiment after Donald Trump announced a temporary pause on potential strikes on Iran's energy infrastructure, indicating possible de-escalation in Middle East tensions. However, investor sentiment remained guarded due to uncertainty over the Strait of Hormuz reopening. Nifty traded above the 22,900 level ahead of the expiry of NSE derivative contract. Auto shares advanced after declining for previous trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex zoomed 1,031.30 points or 1.42% to 73,727.69. The Nifty 50 index soared 392.25 points or 1.74% to 22.905.

The broader market outperformed the...