New Delhi, Feb. 9 -- The Indian stock market began the new trading week on a firm note as both key indices surged over 0.50%, as market sentiment further strengthened after the US and India reached a framework for an interim trade agreement, triggering another wave of buying, especially in export-oriented stocks.

The Nifty 50 closed 176 points, or 0.70%, higher at the 25,870 level, while the S&P BSE Sensex closed 0.60% higher at the 84,072 level. The broader markets also closed with even higher returns, as the Nifty Midcap 100 gained 1.60% and the Nifty Smallcap 100 rallied 2.64%.

India and the US on Friday released a joint statement in which both countries agreed to lower tariffs on each other, with US President Donald Trump signing an...