The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 24,541 level, a premium of nearly 475 points from the Nifty futures’ previous close.

Stocks in India and Pakistan are set for a relief rally following a surprise ceasefire agreement between the two nuclear-armed neighbors on Saturday, as investor focus shifts back to improving economic outlook.

The neighbors had agreed to a full and immediate cease-fire in the worst violence between them for more than two decades.