Sensex closes 266 pts higher; auto stocks rally

Equity benchmark BSE Sensex rose 266 points on Thursday, led by metal, auto and financial stocks amid positive global market sentiment after U.S Federal Reserve Chairman Jerome Powell hinted at a rate cut later this month.

After rising as much as 335 points during the day, the 30-share index settled 266.07 points or 0.69 per cent higher at 38,823.11.

The index hit an intra-day high of 38,892.50 and a low of 38,631.31.

Similarly, the broader NSE Nifty ended 84 points, or 0.73 per cent, higher at 11,582.90. During the day, it touched a high of 11,599 and a low of 11,519.50.

Hero MotoCorp was the top gainer in the Sensex pack, spurting 4.46 per cent. IndusInd Bank, Tata Motors, Vedanta, SBI, M&M, Sun Pharma, Tata Steel and HDFC twins too rose up to 3.63 per cent.

On the other hand, Tech Mahindra, Yes Bank, TCS, L&T, Axis Bank and NTPC fell up to 1.27 per cent.