Mumbai, May 5 -- The headline equity indices traded with substantial gains in the morning trade, supported by easing global trade tensions and sustained foreign inflows and a continued rise in India's foreign exchange reserves, which climbed for the eighth straight week. Nifty climbed above the 24,500 level. Oil & gas shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, rallied 460.03 points or 0.57% to 80,962.02. The Nifty 50 index rose 167.70 points or 0.69% to 24,514.40.

In the broader market, the S&P BSE Mid-Cap index rose 1.08% and the S&P BSE Small-Cap index added 0.88%.

The market breadth was strong. On the BSE, 2,383 shares rose and 1,163 shares fell. A total o...