Stock market recap, April 16 -- Indian equity benchmarks staged a spectacular recovery on Wednesday, 15 April, as Nifty 50 surged 1.63% to close at 24,231.30, while Sensex rallied 1,264 points to settle at 78,111.24.

This sharp rebound was primarily fueled by cooling geopolitical tensions as renewed hopes for U.S.-Iran ceasefire talks triggered a significant drop in crude oil prices below the $100 mark.

The overall market breadth was exceptionally strong, with an advance-decline ratio of nearly 6:1 (2,839 advances to 438 declines), reflecting broad-based participation beyond front-line stocks.

On the sectoral front, Nifty Consumer Durables and Nifty IT led the charge, gaining 2.91% and 2.84%, respectively. On the other hand, Midcap and...