Benchmark indices ended the day sharply higher after trading in a range for most of the day as Russia announced that it had entered into a peace deal with Ukraine.
Tata Steel was the top Sensex loser in trade. Shares in Indiabulls Real Estate rallied sharply after profits at the company almost doubled. Shares in Bosch were also active with the stock rallying after the company was included in the MSCI index.
Jindal Steel, Hindustan Unilever, ONGC and Reliance Industries were among the top losers in trade from the Nifty.
Shares in Ricoh India surged a huge 20 per cent and the stock was locked at the upper end of the circuit filter. Mid cap stocks also ended the day with gains with favourites like Jubilant Foodworks seeing a sharp rally in trade.
Meanwhile, markets in Europe saw a rally in trade on hopes that a debt deal would soon be reached. The German DAX was trading higher by almost one per cent in trade, while the French CAC and UK's FTSE were also higher.