Sensex Soars 650 Points, Nifty Nears 26,150: Steel Duty, Crude Drop Fuel Rally

• Indian stock market rebounded strongly today, with Sensex up 650 points and Nifty near 26,150, breaking a multi-day decline.
• Government's safeguard duty on steel imports sparked a sharp rally in metal stocks like JSW Steel and Tata Steel.
• Softening Brent crude oil prices (down 0.10% to $61.27) eased inflationary pressures, supporting market sentiment.
• India VIX fell over 3% to 9.37, indicating reduced investor anxiety and increased risk appetite.
• Value buying after continuous declines and strong performance in mid-cap and small-cap indices also contributed to the rally.

Why It Matters: Indian markets surged, driven by steel import duty, falling crude, and reduced volatility after recent declines.