New Delhi, Aug. 11 -- Indian stocks kicked off this week on a strong note, with both benchmark indices rallying nearly 1%, led by sharp gains in select heavyweights, particularly banking stocks, even as tariff concerns continued to weigh on sentiment.

The Nifty 50 closed the session with a gain of 0.91% at 24,585 points, while the S&P BSE Sensex rose 0.93%, pushing the index back above the 80,000 mark to 80,604 points. The broader markets also recovered sharply from last week's sell-off, with the Nifty Midcap 100 and Nifty Smallcap indices rallying nearly 1% each.

U.S. President Donald Trump's 25% tariffs became effective last week, with an additional 25% set to take effect on April 27. This has raised hopes that India and the U.S. may ...