At the time of closing, Sensex was at 83,739.75, up by 2072 points or 2.5 per cent, while Nifty was at 25,727, up by 639 points or 2.5 per cent. In terms of sectors, all the major indices traded in the green.
As the fed rate cuts have increased the liquidity in the Indian markets, the Indian rupee will get support against the dollar and will trade around Rs 83.57, highlighted a research report by the Union Bank of India.
Good second quarter earnings and high trading volumes during Diwali, which is considered auspicious by investors community, somewhat gave fuel to the financial markets.