At the stock markets, extending yesterday's rally, the Sensex at the Bombay Stock Exchange surged by over 100 points in late morning trade today. The 30-share index was trading 101 points up at 36,621 when reports last came in.

The Nifty at the National Stock Exchange rose by 39 points to 11,047. At the foreign exchange market, the rupee appreciated by 12 paise to 68 rupees 33 paise against the US dollar in opening trade.