Markets rise for the fourth day: all sectors are up, the Sensex is up 1,000 points, and the Nifty is above 23,200.

A broad-based surge boosted all sectoral indices above 1 percent on March 20, and benchmark indices the Nifty and Sensex continued their mid-day advances to trade significantly higher. As global markets embraced the Federal Reserve's consistent rate-cut projection, IT equities spearheaded the rally.

With gains of roughly 0.7 percent apiece, the midcap 100 and smallcap 100 indices recovered from a brief period of down. Analysts are concerned despite the recent recovery because they think valuations are costly.

Just one day after plunging more than 2 percent in the previous trading session, Nifty IT led the charge as all 13 sectors indices saw gains. The recovery was led by industry titans Tech Mahindra, Infosys, and TCS. While Nifty Realty, Oil & Gas, and FMCG all saw gains of between 1.2 and 1.4 percent, the Auto index continued its impressive run, increasing 1.47 percent. Bank, Metal Energy, and Nifty Pharma all saw increases of more than 1%.