Sensex Soars 700 Points, Nifty Jumps 170: 5 Key Reasons Behind Market Rally

• Indian stock market witnessed a strong rally on Friday, with Sensex gaining 700 points and Nifty climbing 170 points.
• IT stocks, led by Infosys's 5% surge due to better Q3 results and increased revenue guidance, were the biggest drivers.
• Positive global market sentiment, particularly from Asian markets like South Korea's Kospi, boosted investor confidence.
• A fall in Brent crude oil prices to $63.61 per barrel eased inflationary pressures and improved fiscal outlook for India.
• Hopes for an impending India-US trade deal, with the first part almost ready, further fueled market enthusiasm, alongside a 1.24% drop in India VIX indicating reduced market fear.

Why It Matters: Strong IT performance, positive global cues, falling crude oil, trade deal hopes, and low VIX drove the market rally.