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BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
Infrastructure and inflation targeting are expected to be top priorities for the new Reserve Bank of India governor, says A V Rajwade.
The NDA government was initially reticent about fleshing out its economic strategy for the future. But now that it has taken enough bold initiatives on the economic front it must have the confidence to tell us more about its approach going forward, says Abheek Barua.
A lower opening at the domestic equity market and the dollar's rise against other major currencies overseas also put pressure on the rupee, dealers said.
Recommends delisting of chana futures, open to lowering sugar import duty
The battered rupee gained 225 paise to 66.55 against the dollar today, the most in at least 15 years, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
Dealers attributed the fall in rupee to gains made by US dollar against the euro and other overseas currencies ahead of US jobs data and a lower opening in the domestic equity market.
In overseas trade, the American currency traded lower against the yen and the euro in an Asian session as well as modest profit-taking after recent sharp gains
The Budget will obviously be crucial. But US President Donald Trump may have even more of an influence than Finance Minister Arun Jaitley when it comes to sentiment, argues Devangshu Datta.
RBI's foreign exchange reserves fell $237.5 million.
RBI governor Raghuram Rajan, on Monday, said the current level of the rupee is "pretty reasonable" and any attempt to devalue it may lead to a surge in inflationary pressures and "offset any benefits"
The currency lost six paise on sustained dollar demand from importers.
The US dollar index, which measures greenback's strength against a trade-weighted basket of six major currencies, was up 0.14 per cent at 96.74.
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
The rupee had ended almost flat at 61.41 against the Greenback in the previous session on Wednesday on alternate bouts of buying and selling.
Global cues lift Sensex 364 points; Nifty ends above 8,650.
The rupee continued its downslide for the second session in a row, depreciating by 20 paise to close at more than one-week low of 62.51 against the greenback.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
In forward market today, premium for dollar declined on sustained receivings from exporters.
Rajan's first few measures include swap window facility for banks to lure in NRI funds.
Achieving inflation target of 4 per cent, recovery after remonetisation and hardening profile of oil prices are some of the risks which the RBI is watching closely, says Gaurav Kapur.
The dollar index eased 0.05 per cent to 98.69.
Markets crashed due to domestic worries; bluechip stocks tanked too.
India can become a better place to do business only when exports begin to boom.
India's upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter
In the mid-quarter review on December 18, the Reserve Bank left key policy rates unchanged but said it will hike interest rates if inflation does not subside.
Rupee ends day stronger against the dollar.
Dealers attributed the rupee's fall to increased demand for the US currency from importers.
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
Over to the government how they manage the uncertainty of monsoon and revive spending in order to entice RBI for another round of rate cuts
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
The zones, says Panagariya, would have to be set up near deep-draft ports, capable of accommodating very large and heavily loaded ships
In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
A glance back at some important events that occurred in 2018.
Falling for the first time in three days, the rupee today erased initial gains to end 15 paise lower at 62.43 against dollar on fag-end demand of the US currency from banks and importers, amid a tepid stock market.
Euro-zone growth could improve because of (a) reduced pace of fiscal tightening and (b) stronger exports, but weak domestic demand and a fragile banking system could increase deflation risks that could force the European Central Bank to turn further accommodative.
The non-oil, non-finance sector of the economy is under severe stress.
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
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