The markets saw a significant rebound, with the Sensex surging over 1,000 points, which is the largest single-day increase in two months.

Both the Nifty and Sensex experienced a broad-based rally, driven by strong investor sentiment. At noon, the Sensex was up 995 points, or 1.29%, reaching 78,334.01, while the Nifty rose by 291.70 points, or 1.24%, to 23,745.50.

Notably, M&M, Tech Mahindra, Adani Ports, Trent, and Tata Motors were the top gainers on the Nifty. The recent surge in the market can be attributed, in part, to the Nifty"s relative strength index, which had fallen below 30 in previous sessions, indicating oversold conditions.

However, experts caution that a sustained recovery may not be on the horizon. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned that while recoveries are possible, they are unlikely to be enduring due to ongoing selling by foreign institutional investors and concerns over weak earnings growth anticipated in FY25. He indicated that the market may consolidate around current levels, with sideways movements expected in the near term.