Mumbai (Maharashtra) [India], June 24 (ANI): The Indian benchmark indices closed in the positive territory on Wednesday, led by gains in banking and IT stocks and a further cooling in Brent crude prices. Sensex surged over 800 points while Nifty crossed the 24,000 mark towards the close.

Sensex ended at 76,991.22, up 790.54 points or 1.04 per cent, while Nifty settled at 24,021.65, up 197.55 points or 0.83 per cent.

Nifty IT emerged as the top sectoral gainer, surging over 2 per cent, followed by Nifty Realty, Nifty Private Bank, Nifty Financial Services, Nifty Cement, and Nifty REITS & Realty.

On BSE, Trent, IndiGo, Bajaj Finance, Infosys, ICICI Bank, TCS, HDFC Bank, Adani Ports, Kotak Bank, SBI, among others, emerged as major gainers. Meanwhile, NTPC, Tata Steel, Eternal, Bharti Airtel, and Maruti, among others, were major losers.

Abhishek Kumar, SEBI RIA, Founder, SahajMoney noted 'Nifty staged a strong recovery today and reclaimed the 24,000.

The BSE Sensex surged and ended near 77,000. This broad-based rally was primarily triggered by a further cooling in Brent crude prices, which hit multi month lows near USD 76.50/barrel, easing domestic inflation concerns and providing a tailwind for Indian equities.

'Banking and IT sectors were the primary drivers, with Nifty Bank and Nifty IT gaining ~1.7% and 2% respectively. Heavyweights like ICICI Bank and HDFC Bank provided significant support,' Kumar said.

Meanwhile, 'the Metal, Consumer Durables, and Auto sectors lagged behind the broader market rally,' he said.

'The successful reclamation of the 24,000 level has significantly improved market sentiment, erasing the previous session's volatility and setting a constructive tone for the rest of the week,' he noted.

Riyank Arora, Associate Vice President - HNI & Derivatives, Hedged.in noted 'The broader market trend remains constructive as key indices continue to hold above important support levels. However, the recent consolidation phase suggests that traders should remain cautious and focus on stock-specific opportunities. A sustained breakout above resistance zones could attract fresh buying interest, while a breach of support levels may trigger short-term volatility.

Maintaining disciplined risk management and a selective approach remains advisable in the current market environment.'

Market analyst Vipin Dixena noted, 'Today's modest recovery feels like a healthy stabilisation, which tells me yesterday's 1.28% selloff was absorbed by buyers without any macro breakdown. What's really reassuring is that India VIX rose only +0.51% to 13.45 after four days of decline, signalling that volatility isn't spiking, and WTI crude at $77 (4-month low) continues to be the biggest structural cushion for long-term conviction. I think we are entering a consolidation phase.' (ANI)