Why markets rallied: Sensex jumps over 900 points, Nifty gains 1 per cent; 5 key reasons

Indian stock markets rallied sharply on Thursday, with the Sensex rising over 900 points to close at 74,151 and the Nifty gaining more than 1% to settle at 22,936.75. The gains came on the monthly derivatives expiry day, supported by a firmer rupee, a marginal easing in crude oil prices, the US Federal Reserve's decision to keep interest rates unchanged, and strong corporate earnings. Buying also spread to mid-cap and small-cap stocks, signalling improved investor sentiment after a recent period of consolidation.The Nifty crossed its key 20-day exponential moving average (20-DEMA) level of around 22,825 during the session. It extended its gains through the afternoon as buying picked up across sectors.