It was a good Tuesday for the markets as the Sensex and Rupee both saw a remarkable surge. The BSE index Sensex jumped by 446 points to hit a nearly 17-month-high of 28,978.02 and the Nifty zoomed 133.35 points while the Indian currency soared by a whopping 30 paise to end near a four-month-high of 66.52 on sliding Dollar value.
Market experts attributed the rise of the Sensex and the Rupee to investors, who were in a buoyant mood after a weak US jobs data diminished hopes of an interest-rate hike by the Federal Reserve.
Both the indices, Sensex and Nifty, recorded their biggest single-day gains in nearly two months.
Bulls took over as soon as the market reopened after a long gap, as weaker-than-expected US jobs data, released last week, reduced chances of a near-term US interest-rate hike.
A three-and-a-half-year high in domestic services sector growth led by new business orders amid improved market conditions, also perked up market momentum.
Auto and banking stocks were the pick of the day, with Tata Motors the biggest gainer on BSE, zooming 7.19 per cent to Rs 589.35, while private sector lender Axis Bank followed with a gain of 6.14 per cent to Rs 635.35.
Among losers, TCS plunged by 1.17 per cent to Rs 2,484.05 and Coal India slipped by 1.11 per cent to Rs 328.80.