Mumbai, May 2 -- The key equity benchmarks traded with moderate gains in the mid-morning trade, driven by renewed global optimism and rising expectations of a potential trade agreement between the United States and India. The Nifty traded above the 24,300 level. Oil & Gas shares advanced after declining for the previous trading session.

At 11:30 ST, the barometer index, the S&P BSE Sensex, surged 387.82 points or 0.48% to 80,627.07. The Nifty 50 index rose 59.45 points or 0.24% to 24,393.65.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index added 0.19%.

The market breadth was strong. On the BSE, 2,179 shares rose and 1,379 shares fell. A total of 211 shares were unchanged.

Economy:

India's Go...