Mumbai, May 25 -- The domestic equity markets closed sharply higher on Monday as improving optimism around a possible peace agreement between the United States and Iran boosted investor sentiment globally and eased concerns over energy prices.

The NSE Nifty 50 index closed at 24,031.70, gaining 312.40 points or 1.32 per cent, while the BSE Sensex surged 1,073.61 points or 1.42 per cent to settle at 76,488.96.

According to market experts, investor confidence improved significantly after former US President Donald Trump stated over the weekend that a deal between the United States and Iran was "largely negotiated".

Ponmudi R said optimism surrounding a potential US-Iran agreement revived risk appetite across global markets.

He said, "In...