Mumbai, Feb. 4 -- The key equity indices traded with significant gains in the morning trade, following gains in Asian markets. This came after the U.S. paused its planned tariffs on Canada and Mexico, which helped alleviate concerns about a potential global trade war. The Nifty traded above the 23,500 level. Oil & Gas shares advanced after declining for the previous two consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, rallied 573.71 points or 0.74% to 77,755.65. The Nifty 50 index added 164.75 points or 0.71% to 23,525.50.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.81% and the S&P BSE Small-Cap index added 0.56%.

The market breadth was strong. On the BSE, 2...