The benchmark equity indices Sensex and Nifty settled higher for the second straight session on Monday, tracking a rally in global markets and a sharp fall in crude oil prices after the US and Iran finalised a deal to end their 107-day war.

The Sensex jumped 736.38 points or 0.97 percent to settle at 76,264.33. During the day, it zoomed 1,293.12 points or 1.71 percent to 76,821.07.

Rising for the second day, the Nifty surged 231 points or 0.98 percent to end at 23,853.90. During the day, the benchmark rallied 388.5 points or 1.64 percent to 24,011.40.


Sensex had rallied 1,695 points or 2.3 percent and Nifty soared by 461 points or nearly 2 percent in the previous session on Friday.

All sectoral indices on the NSE settled in the green, barring pharma. The broader Nifty Smallcap 100 and Nifty Midcap 100 indices rose 1.11 percent and 1.29 percent, respectively.


HDFC Bank advanced 2 percent. Nomura said the Reserve Bank of India's new NRI deposit scheme could be a major positive for the lender as it may help attract more long-term foreign-currency deposits, improve liquidity and ease pressure on margins.

Infrastructure major Larsen & Toubro, which has significant revenue exposure to the West Asia, gained 3.2 percent. Oil marketing companies, tyre makers, paint makers and airlines also rose on the back of lower crude oil prices.

Crude oil prices fell to three-month lows in global markets after the announcement of the US-Iran deal. Global benchmark Brent Crude dropped 5 percent to trade near USD 82.90 per barrel. Lower oil prices are positive for India, the world's third-largest oil importer, as they help reduce pressure on inflation, the rupee and the country's trade deficit.