The stock market experienced a significant rebound, with the Sensex rising by 1,961.32 points (2.54%) to 79,117.11 and the Nifty up by 557.35 points (2.39%) to 23,907.25. Key sectors such as IT, PSU banks, and realty saw gains of 2-3%, driven by stocks like State Bank of India and TCS. Analysts noted that the rally was fueled by short covering in underperforming sectors ahead of crucial state election results, with potential for further gains or volatility depending on the election outcome.
