Indian equity benchmarks surged on Thursday following expectations of rate cuts. At closing, Sensex was up 676 points or 0.93 per cent, at 73,663 points and Nifty was up 203 points or 0.92 per cent, at 22,403 points. Among sectors indices, IT, Auto, FMCG, Pharma, Metal, Reality, Media and Fin service were the top gainers