Mumbai, April 6 -- The domestic equity benchmarks staged a sharp rebound on Monday, extending gains for a third straight session. After a weak start, the indices reversed course decisively in the afternoon, driven by reports of a possible Iran-US de-escalation, easing crude prices and supportive global cues. Despite the recovery, sentiment remained cautious ahead of the RBI's monetary policy decision on Wednesday. The Nifty plunged to an intraday low of 22,542.95 in mid-morning trade before rebounding sharply to close at 22,968.25, reflecting a strong late-session recovery. The rally was led by banking and financial services stocks.

The S&P BSE Sensex climbed 787.30 points or 1.07% to 74,106.85. The Nifty 50 index soared 255.15 points or...