Mumbai: The BSE Sensex spurted over 574 points to 20,536.29 in early trade on sustained buying by funds and retail investors, triggered by strengthening rupee and a firming trend overseas after the U.S. Federal Reserve decided to keep its stimulus programme intact.

The 30-share index, which had gained nearly 230 points in the past three sessions, rose further by 574.13 points, or 2.88 percent, to 20,536.29 points with banking, realty, capital goods and auto sector stocks leading the rally.

The broad-based NSE Nifty also moved up 183.65 points, or 3.11 percent, to 6,083.10.

Brokers said market sentiment turned extremely bullish on a flurry of buying by funds driven by strengthening rupee and a firming global trend after the U..S Federal Reserve surprised markets by sticking to its massive bond-buying programme.

The BSE banking index gained the most by surging 6.89 percent to 12,711.50 as stocks like SBI was up 5.32 percent, followed by ICICI Bank (8.18 percent), Axis Bank (7.13 percent), Yes Bank (16.27 percent) and HDFC Bank (5.12 percent).

In other Asian markets, Hong Kong's Hang Seng rose by 1.67 percent, while Japan's Nikkei by 1.32 percent in early trade.

The U.S. Dow Jones Industrial Average gained 0.95 percent to hit record high in yesterday's trade.

Also Read:

7 Smart Financial Moves Before You Enter the Age of 30

Are You Opting To Lower Home Loan Rate? A Quick Guide To Follow