Sensex closes over 1,200 points higher, Nifty ends at 23,440

Indian benchmark indices ended sharply higher on Monday. The BSE Sensex closed the trading session 1,233.25 points, or 1.66%, higher at 75,692.78, while the Nifty gained 387.70 points, or 1.68%, to close at 23,440.80. The rally was driven by falling crude oil prices, hopes of a US-Iran peace deal, foreign investor buying and strong Reliance Industries earnings.