Rising for the third straight session, the Sensex at the Bombay Stock Exchange spurted 434 points, or 2.7 percent, to 16,454, amid rate cut hopes, a stabilizing rupee, and rising global markets, today. 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.