Sensex, Nifty surge more than two and a half percent in afternoon trade

The Sensex and the Nifty today surged more than two and a half percent in the afternoon trade. Both stock indices posted robust gains even as the cues from global share markets were negative. The Sensex was trading above the 59,500 mark while the Nifty was trading above 17,750 level.

The Sensex climbed 1564 points, or 2.7 percent, to trade at 59,537 while the Nifty jumped 446 points, or 2.56 percent, to trade at 17,759 when the reports last came in.

In the forex market, the rupee also strengthened 51 paise to trade at 79 rupees and 46 pasie against the US dollar in the afternoon deals.