New Delhi, March 22 (TIWN) Erasing the opening session losses, India's key equity indices -- Sensex and Nifty -- settled sharply higher on Tuesday.

Sensex settled 1.2 per cent or 697 points up at 57,989 points, whereas Nifty 1.2 per cent or 198 points up at 17,315 points.  "The domestic market started with a negative bias taking cues from rising crude prices and hawkish signals from Fed on aggressive policy tightening," said Vinod Nair, Head of Research at Geojit Financial Services.