Sensex surges over 1,500 points to three-week high on banking, IT rally

The Sensex closed at a three-week high, gaining over 1,500 points in a broad-based rally driven by strength in banking, IT and Reliance Industries shares.

Softer crude oil prices provided support to the market, with energy-dependent sectors benefiting from lower input costs. Investor enthusiasm over Jio Platforms' proposed initial public offering also contributed to positive market sentiment.

The rally reflected renewed confidence across key market segments, with gains spread across multiple sectors beyond just the headline movers.