Why is market rising today? Sensex rallies over 650 pts, Nifty nears 24K. Key factors driving D-St rebound

Sensex rallied 682 points to 76,882 and Nifty gained 167 points to 23,991, recovering from the previous session's selloff. The rebound was driven by RBI Governor Sanjay Malhotra calling rate-hike concerns premature and reiterating the neutral stance, a near 3 percent rebound in South Korea's Kospi, and US comments indicating a bilateral trade deal with India is close to conclusion. Broader markets stayed muted, with smallcap and midcap indices slipping, while Nifty IT and Nifty Private Bank led sectoral gains.