India's Foreign Secretary Vikram Misri says both India and Pakistan would "stop all firing and military action on land, air and sea" with effect from 17:00 IST (12:30 BST).
Pakistan and India have agreed to a ceasefire with immediate effect, Deputy Prime Minister of Pakistan, Ishaq Dar says.
They have also decided for bilateral talks to sort out things at a neutral venue. These talks will begin from May 12. The place us yet to be declared.