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, with volatility increasing as the India VIX rose over 1%.

Oil prices also fell as investors reacted to geopolitical tensions and easing sanctions on vessels.