Mumbai, May 2 -- The domestic equity indices traded with major gains in early trade, driven by renewed global optimism and rising expectations of a potential trade agreement between the United States and India. Banking sector shares advanced, while consumer durables, media, and pharmaceutical stocks declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, surged 623.19 points or 0.78% to 80,879.94. The Nifty 50 index rose 148.95 points or 0.61% to 24,483.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index declined 0.37%.

The market breadth was positive. On the BSE, 1,450 shares rose and 1,193 shares fell. A total of 172 shares were unchanged.

Foreign portfolio investors (FPIs) bought...