The benchmark equity indices Sensex and Nifty staged a sharp recovery and settled over 1 percent higher on Monday, rebounding from early losses amid reports that Iran and the United States have received a plan aimed at ending hostilities with an immediate ceasefire.

The Sensex settled 787.30 points or 1.07 percent higher at 74,106.85, while the broader Nifty advanced to 22,968.25, up 255.15 points or 1.12 percent. Market breadth turned positive, as about 3083 shares advanced, 1081 shares declined and 175 shares unchanged.

Most sectoral indices on the Nifty settled in the green, except oil and gas. The broader indices also gained, with the Nifty Smallcap100 and Nifty Midcap100 rising up to 1.5 percent.


Trent, Titan and Adani Enterprises were among the top gainers in the Nifty50 index, rising up to 7 percent, while Oil & Natural Gas Corporation and JSW Steel were among the major laggards, declined up to 2 percent.

In early trade, the domestic markets traded lower, with the Sensex dropping 590.89 points or 0.8 percent to 72,728.66, and the Nifty falling 170.15 points or 0.74 percent to 22,542.95.