Mumbai, July 23 -- The key equity indices traded with significant gains in the mid-afternoon trade. Investors will closely monitor IPO activity, the India-US trade deal, and developments on the tariff front. The Nifty traded near the 25,200 level.

Oil & gas shares advanced after declining in the past four trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex, advanced 505.01 points or 0.60% to 82,679.42. The Nifty 50 index added 138.95 points or 0.55% to 25,199.85.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.10% and the S&P BSE Small-Cap index shed 0.16%.

The market breadth was negative. On the BSE, 1,736 shares rose and 2,199 shares fell. A total of 190 shares were u...