Mumbai: The flagship BSE Sensex shot up by a whopping 521 points
to end at 28,050.88, while broader Nifty surged over 156 points to close at 8,677.90.
In the meantime, Foreign portfolio investors (FPIs) remained net sellers in the domestic equity markets and sold a net Rs 456.64 crore on yesterday as per provisional data.
In the forward market, premium for dollar maintained its downtrend due to consistent receiving by exporters.
The benchmark six-month premium for March dropped to 160-162 paise from 164.5-166.5 paise and the forward-September 2017 contract also fell to 336-338 paise from 342-344 paise.
Crude prices extended its fall for the second day following Iran's indication to boost its overall oil output to 4M bpd this year.
Opec agreed last month to work to try and reduce supply to raise a price that has halved in the past two years.
Brent crude oil was trading just below USD 52 a barrel on Tuesday, close to its highest this year.
