Forex market closed for Buddha Purnima

Mumbai: The foreign exchange market will remain closed on Monday on account of Buddha Purnima.

While stock market benchmark indices Sensex and Nifty rebounded sharply in early trade on Monday after India and Pakistan announced an understanding to stop all firings and military actions on land, air and sea.

India launched 'Operation Sindoor' on early May 7 to destroy nine terror infrastructures in Pakistan and Pakistan-Occupied-Kashmir in retaliation to the Pahalgam terror attack.

After starting the trade optimistically, the 30-share BSE benchmark gauge Sensex further jumped 1,793.73 points to 81,248.20 in early trade. The NSE Nifty surged 553.25 points to 24,561.25.

Later, carrying forward the momentum, the BSE benchmark traded 1,949.62 points higher at 81,398.91, and the Nifty quoted 598.90 points up at 24,606.90.