New Delhi, March 24 -- Indian markets and their Asian peers rebounded sharply on Tuesday, recouping much of their losses from a day earlier, after US President Donald Trump announced a temporary halt to strikes on Iranian energy infrastructure, easing geopolitical concerns.

Indian benchmark Nifty 50 rose 1.78% to close at 22,912.40 after a relief rally and a short-covering on the expiry day. The Sensex 30, too, rose 1.89% to close at 74,068.45 on Tuesday, raising the BSE's market capitalization by Rs.7.56 trillion.

Key Asian benchmarks traded in line with India's bourses. Japan's Nikkei 225 index closed 1.4% higher, Hong Kong's Hang Seng index 2.8%, South Korea's Kospi index 2.7%, and China's CSI 300 index was up 1.3%.

The Nifty 50 bre...