Sensex surges 600 points, Nifty above 24,350. 7 key factors behind today's D-Street rally

Sensex surged 650 points and Nifty crossed 24,350, adding nearly Rs 2.4 lakh crore to total BSE market cap which touched Rs 482 lakh crore. IT heavyweights HCL Tech, Tech Mahindra, Infosys and TCS led gains rising 2-5%, while broader markets lagged with Midcap 100 up just 0.2%. The rally was driven by cooling US Fed rate hike expectations after weaker June jobs data, a stronger rupee at 95.17, tapering FII outflows to about Rs 312 crore, record Dow Jones close, and stable Middle East peace efforts.