Markets posted strong gains on Monday, with the Sensex surging 566.96 points or 0.67 per cent to close at 84,778.84, while the Nifty 50 advanced 170.90 points or 0.66 per cent to settle at 25,966.05, driven by optimism over progress in US-China trade negotiations and softer-than-expected US inflation data that renewed expectations of a Federal Reserve rate cut this week.

“The domestic market witnessed a broad-based recovery owing to progress in the US-China trade talks. Meanwhile, gold prices declined as demand for safe-haven assets waned. Softer-than-expected US CPI data renewed expectations of a FED rate cut this week, boosting investor confidence,” said Vinod Nair, Head of Research, Geojit Investments Limited.

Market breadth remained positive with 2,178 stocks advancing against 2,

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