Rallying for the third straight session, the Sensex at the Bombay Stock Exchange spurted a massive 434 points–its biggest single-day gain this year–to 16,454, today, as the government moved to push investment and reforms, and on rate cut hopes, and in line with rising global stock markets. The Nifty at the National Stock Exchange jumped 134 points, or 2.8 percent, to 4,997.Stock markets in Japan, Hong Kong, and Singapore climbed between 1.4 percent and 1.8 percent.