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Markets rally in early trade tracking global peers

Benchmark indices Sensex and Nifty surged in early trade on Thursday in tandem with a rally in global markets after lower-than-expected consumer inflation in the US ignited hopes of more rate cuts by the Federal Reserve. The 30-share BSE benchmark Sensex jumped 595.42 points to 77,319.50 in early trade. The NSE Nifty rallied 178.45 points to 23,391.65.