Indian equity benchmarks surged 1% in afternoon trade as the rupee gained 37 paise to trade at 54.99 as against the US dollar. Index heavyweights Reliance Industries, Infosys and L&T led the rally.
The BSE benchmark jumped 202 points or 1.23% to 16,656.26 and the NSE benchmark went up 54.45 points or 1.09% to 5,051.55. Even European markets like France's CAC, Germany's DAX and Britain's FTSE rose 0.5% each.
Private oil & gas producer Reliance Industries and software services exporter Infosys climbed 1.65% each.
Private sector lenders ICICI Bank and HDFC Bank rallied 2.5% each while their rival State Bank of India was up 0.9%. Housing finance company HDFC moved up 0.8%.
Engineering and construction major by sales Larsen & Toubro jumped 1.7% and state-owned capital goods company BHEL was up 1%.
Top car maker Maruti Suzuki and country's largest two-wheeler manufacturer Hero Motocorp advanced 3%. Top commercial vehicle maker Tata Motors was up 1%.
Among metals and mining stocks, Sterlite Industries surged 3.5% while Jindal Steel, Tata Steel and Coal India went up 1-1.7%.
However, shares of TCS and Wipro were down 1-1.6% on profit booking. Hindalco declined 0.5%.
