The accord will now go to Prime Minister Boris Johnson and European Commission President Ursula von der Leyen for their formal approval
The Sensex ended the session at 46,973, a gain of 529 points or 1.14 per cent. The Nifty ended the session at 13,749, or up 148 points or 1.09 per cent
He soon took to the podium at 10 Downing Street in London to declare that he had kept his promise to the British electorate, who had voted for Brexit in a referendum in June 2016
Sources in London and Brussels said a deal was close as British Prime Minister Boris Johnson held a late-night conference call with his Cabinet of senior ministers
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.14%. Australian stocks advanced by 0.57%, while Tokyo shares rose 0.4%
EU and British negotiators inched their way to within touching distance of a trade deal early Thursday, raising hopes a chaotic economic break between the two sides on New Year's Day could be averted
The gains in the indices were led by IT majors Infosys and TCS
British Housing Secretary Robert Jenrick told Sky News that "at the moment there isn't sufficient progress" at the talks.
Britain is set to complete its departure from the EU when it leaves the bloc's single market and customs union on Dec. 31, meaning its current free trade arrangements expire
Pressure is mounting on Prime Minister Boris Johnson to extend the Brexit transition period beyond the December 31 deadline to prevent further chaos on the borders.
The volatility index, India VIX, spiked 24.52 per cent to 23.19
People familiar with both sides of the negotiations told Bloomberg that the trade talks are unlikely to wrap up on Sunday
Deep into a crucial weekend of negotiations, a breakthrough on fishing rights remained elusive for the European Union and Britain
The broader markets ended in the red for second straight day.
British Prime Minister Boris Johnson has underlined the post-Brexit trade negotiations between Britain and the European Union (EU) were now "in a serious situation"
'Whether there is a deal is not simply down to the actions of the Prime Minister. It needs the EU to move'
Here's a selection of Business Standard opinion pieces for the day
The latest negotiating deadline for Brexit takes it down to the wire
E-Mini futures for the S&P 500 responded by rising 0.5%, while March Treasury bond futures slipped 5 ticks
By Saikat Chatterjee