Sensex jumps 600 points, Nifty nears 23,450. Key factors behind today's Dalal Street rally

Sensex jumped over 600 points to cross 78,370 while Nifty 50 gained 177 points to 24,447, adding more than Rs 2 lakh crore to the total market capitalisation of all NSE-listed companies, taking it to Rs 482 lakh crore. HDFC Bank led the rally with about 4 percent gains, followed by 1-2 percent rises in M&M, BEL, Reliance Industries, ICICI Bank and Bharti Airtel, while Kotak Mahindra Bank slipped around 4 percent. Key drivers included revived monsoon hopes following heavy rainfall across India, continued FII buying worth over Rs 1,355 crore on Friday, and easing geopolitical tensions as US-Iran ceasefire negotiations progressed around the Strait of Hormuz.