sensex up 400points

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Mumbai, Sept 9: The Sensex and the Nifty ended higher by nearly 1.7 per cent on Wednesday, propped by buoyant global markets. Stocks also got a lift from the Union Cabinet meeting where the government approved several reforms, including allowing telecom companies to trade spectrum. The 30-share BSE index Sensex surged 401.71 points or 1.59 per cent to 25,719.58 and the 50-share NSE index Nifty jumped 130.35 points or 1.7 per cent to 7,818.60.
Global shares surged on Wednesday, led by the biggest daily gains in Japan for seven years, helping lift the dollar and oil prices as the prospect of more stimulus from China soothed investors rattled by recent market turmoil.
The charge into stocks pushed yields on low-risk government bonds higher, with the rise exacerbated by the anticipation of auctions of German and US 10-year debt later in the day.
European shares rose, with the pan-European FTSEurofirst 300 index up more than 2 per cent in early trade.
Asian shares extended a global rally on Wednesday, with markets in China stabilising and Japanese stocks posting their biggest one-day gain since the height of the global financial crisis in 2008.