Why is market rising today? Sensex soars 600 points, Nifty above 23,900. Key factors driving the rally

Sensex surged over 600 points to 76,696 while Nifty 50 climbed above 23,900, adding nearly Rs 4 lakh crore to BSE market capitalisation which reached Rs 479 lakh crore. The rally was driven by easing Iran-US tensions after both sides paused strikes over the weekend, sending Brent crude down 4 percent to below $93 per barrel and WTI to $85 per barrel. Additional support came from falling US Treasury yields, with the 10-year yield dropping to 4.637 percent, and value buying after the prior week's sharp decline, while India VIX fell 3 percent to 13.55.