Mumbai, Feb. 4 -- The key equity benchmarks traded with notable gains in mid-afternoon trade, driven by the U.S. decision to suspend its planned tariffs on Canada and Mexico, offering a temporary reprieve from escalating trade tensions. This move was seen as a positive development in easing trade concerns and fostering market optimism. The Nifty traded above the 23,650 mark. Private Bank shares advanced after declining for the previous two consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, soared 1,031.91 points or 1.34% to 78,218.65. The Nifty 50 index rallied 314.30 points or 1.35% to 23,675.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.98% and the S&P BSE Small-Cap index added 0.92%. ...