Sensex powers up over 1,000 points: What's fueling the surge on Monday?

The Indian equity markets staged a strong comeback after a sharp selloff seen in the past few weeks. Frontline indices BSE S&P Sensex was up over 1,000 points at 55,925 levels, whereas, Nifty 50 touched three-week high, floating above the 16,650 mark. Broader markets, too, reflected resilience as Nifty Midcap 100 and Nifty Smallcap 100 rose over 2 per cent and 3 per cent, respectively.
 

Analysts believe that the improvement in global sentiment on the back of consumer resiliency and peaking inflation brought cheer back to the Dalal Street. Investors got a respite from the painful selloff after the US