Stock market recap, May 26 -- Indian equity benchmarks rallied sharply on Monday, buoyed by positive global cues as easing crude oil prices and reports of progress in US.-Iran peace negotiations lifted investor sentiment.

The Nifty 50 surged 1.39% to close at 24,049.55, near its intraday high, reclaiming the psychologically important 24,000 mark. The BSE Sensex advanced 1.50% to end the session at 76,549.82.

Market breadth remained firmly positive, with 2,271 stocks advancing against 1,046 declines, while 102 shares were unchanged.

Sector-wise, banking and financial stocks led the rally, with the Nifty PSU Bank and Private Bank indices posting strong gains alongside the auto sector. Defensive pockets remained subdued, however, with the...