Mumbai/IBNS, June 15 -- The Indian stock market rallied sharply on Monday after the United States and Iran reached a peace agreement, easing concerns over the ongoing West Asia crisis and triggering a fall in global oil prices, media reports said.

Sensex Jumps Nearly 1,300 Points

The momentum remained strong through the morning session, with the Sensex holding gains of over 1,100 points and the Nifty trading more than 300 points higher.

Market experts attributed the rally to improving investor sentiment after geopolitical tensions showed signs of easing and crude oil prices retreated sharply.

Trump Announces Peace Agreement

US President Donald Trump on Monday announced that Washington and Tehran had reached an agreement aimed at endi...