Mumbai, April 15 -- The key equity indices traded with substantial gains in early afternoon trade, buoyed by positive global cues following U.S. President Donald Trump's announcement of tariff exemptions on electronic goods. The Nifty hovered above the 23,300 level. Private bank shares rallied for the second consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex, soared 1,662.71 points or 2.20% to 76,816.81. The Nifty 50 index surged 508.35 points or 2.23% to 23,336.90.

In the broader market, the S&P BSE Mid-Cap index rallied 2.15% and the S&P BSE Small-Cap index surged 2.72%.

The market breadth was strong. On the BSE, 3,201 shares rose and 725 shares fell. A total of 195 shares were unchanged.

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