India's stock market saw a significant rebound on Monday, with the Nifty rising 255.15 points (1.1%) to close at 22,968.25 and the Sensex climbing 787.3 points (1.1%) to end at 74,106.85. This recovery came after both indices faced losses of up to 0.8% earlier in the day. The market's positive shift was largely influenced by a ceasefire proposal in the West Asia conflict, which boosted investor sentiment. Shrikant Chouhan, head of Equity Research at Kotak Securities, noted that short covering from oversold levels and stable crude oil prices, which remained below $110, contributed to the market's recovery. Despite the upswing, the India VIX, a measure of market volatility, decreased slightly by 0.2% to 25.47, indicating ongoing caution among investors. In terms of trading activity, foreign portfolio investors sold shares worth ₹8,167 crore, while domestic institutions purchased shares worth ₹8,089 crore. Broader indices also performed well, with the Nifty Midcap 150 and Nifty Small-cap 250 gaining 1.4% and 1.1%, respectively. Chouhan anticipates that the Nifty could approach 23,200 in the near term, where profit booking may occur.