After BJP's massive victory in Uttar Pradesh, Sensex nears 30,000-mark

The Sensex rose as much as 600 points to 29,561.93 while Nifty surged 188 points to record high of 9,122 today.

The rupee also strengthened to nearly 1-year high of 66.17 against the US dollar, rising 43 paise from Friday's close of 66.60.

According to analysts, the landslide victory of the BJP in Uttar Pradesh, Uttarakhand Assembly elections has removed the political uncertainty from the market, which had kept investors cautious in the run-up to the announcement of the election results.