The markets are currently experiencing a strong rally, with the Sensex increasing by 1,025.48 points, or 1.33 percent, to reach 78,181.27. The Nifty also saw gains, climbing by 324.90 points, or 1.39 percent, to reach 23,674.80.

This surge in the market is primarily driven by the realty, banking, and IT sectors, despite only two stocks, Axis Bank and Sun Pharma, recording losses on the Nifty. Despite ongoing challenges such as the Russia-Ukraine conflict and a record 37-day selling streak by foreign institutional investors (FIIs), market sentiment remains resilient.

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market has only experienced a correction of about 11 percent from its September peak, indicating a correction rather than a crash. The positive performance of the US market, with a year-to-date return of 25.43 percent, further supports a positive global outlook.