IST, the barometer index, the S&P BSE Sensex, surged 623.19 points or 0.78% to 80,879.94. The Nifty 50 index rose 148.95 points or 0.61% to 24,483.55.

With US stocks trading at nearly 19.2x forward earnings, global investors, Wood suggested, should continue to reduce positions in favour of Europe, China and India ...