Why is market rising today? Sensex gains 630 points, Nifty nears 24,050. 3 key factors

Sensex surged 630 points to 77,110 and Nifty 50 climbed about 184 points near 24,050, adding nearly Rs 2.5 lakh crore to BSE total market cap to about Rs 477 lakh crore as India VIX dropped about 2 percent to 13.37. FMCG stocks led the rally with Nifty FMCG gaining over 2 percent - Dabur surged 5 percent while Colgate, Nestle India, Emami, HUL and Godrej Consumer rose about 3 percent each, driven by Anand Rathi's optimism on steady volume growth, pricing power and crude-led margin support. IT stocks bucked the trend with Tech Mahindra and HCL Tech falling 2-3 percent, while 1,914 stocks advanced on NSE against 1,458 decliners.