Sensex jumps over 630 points, Nifty closes above 9,380

New Delhi: Markets opened on a high note on Wednesday after Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus to revive the economy.

The BSE Sensex jumped 637.49 points or 2.03 percent to close at 32,008.61. On the other hand the NSE Nifty closed at 9,383.55, down 187.00 or 2.03 points.

Axis Bank was the top gainer in the Sensex pack, surging around 7 per cent, followed by Ultratech Cement, L&T, ICICI Bank, SBI, M&M and Bajaj Finance. On the other hand, Nestle India, Sun Pharma, Bharti Airtel and HUL ended in the red.

Meanwhile, the rupee appreciated by 5 paise to provisionally close at 75.46 against the US dollar.

In a televised address to the nation on Tuesday Prime Minister Narendra Modi announced a massive new financial incentive on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore. This package of Rs 20 lakh crore is expected to give a new impetus to sagging economy.