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The S&P BSE Sensex surged as much as 431 points in early morning trade on Wednesday to reclaim its crucial level of 24000, led by gains in ICICI Bank, SBI, HDFC Bank, ITC, and HDFC.The Nifty50 reclaimed it crucial resistance level of 7,300 and was trading near its next crucial level of 7,350 supported by gains in realty, power, oil & gas, capital goods, and banks. 

A commitment by Finance Minister Arun Jaitley on Monday to meet the fiscal deficit target of 3.5 percent of the gross domestic product is also raising hopes it would raise confidence among foreign investors after heavy selling this year.The Nifty and Sensex indexes rose 3.4 percent each, their strongest daily gains since September 2013. The rupee rose to as much as 67.86 per dollar, its highest since Feb. 10, from its closing level of 68.4250/68.4350 on Monday.