Sensex on fire! 1,200-point rally puts bulls back in the driver’s seat. What just happened?

Benchmark indices Nifty and Sensex experienced a rebound on Thursday following the previous day's decline. Strong performances by IT and banking stocks contributed to positive sentiment on Dalal Street. Volatility increased as the India VIX rose over 1%, reflecting market fluctuations. Oil prices also fell as investors reacted to geopolitical tensions and easing sanctions on vessels.