Israel's main stock indexes hit fresh record highs on Thursday, following a ceasefire accord between the country and militant group Hamas after 15 months of conflict.

Israel and Hamas agreed to a ceasefire deal to pause the devastating war in the Gaza Strip, multiple officials announced Wednesday, raising the possibility of winding down the deadliest and most destructive fighting between the bitter enemies.

The Israeli government ratified the Gaza ceasefire and hostage return deal, Prime Minister Benjamin Netanyahu's office said, after a cabinet meeting that lasted more than six hours and ended in the early hours of Saturday.