Market close: Sensex climbs up 266 points

Indian equity markets headed northwards as auto stocks rallied on Thursday. Positive global cues from the fact that the US Federal Reserve might cut interest rate also helped the rally. 

The BSE Sensex closed at 38,823.11, up by 266.07 points or 0.69 per cent, while Nifty50 closed at 11,582.90, up by 84.00 points or 0.73 per cent on Thursday. 

Among the top gainers on Nifty were ZEEL, JSW Steel, IndusInd Bank, Indiabulls Housing and Dr. Reddy, while among the losers were Yes Bank, Tech Mahindra, ICICI Bank, IOC and Axis Bank. 

The index heavyweights that were boosting the Sensex's uptrend were HDFC twins with HDFC contributing positive 53.67 points, HDFC Bank 45.38 points and SBI 32.73 points, supported by IndusInd, ITC, Infy and HeroMoto. While pulling the index down significantly was ICICI Bank contributing negative 26.74 points. 

Sectorally, all index closed in green. With the Nifty Media gaining more than 3 per cent followed by Auto and Nifty Metal posting gains of 1.86 and 1.77 per cent, respectively. Other indices that gained were Nifty Pharma and Realty up by more than 1 per cent each. 

The mover and shakers of the day includes Dish TV up by 16.31 per cent, Reliance Infra and Tata Comm up more than 10 per cent, while Graphite India and HEG lost more than 7 per cent each. Religare Enterprise and GTPL Hathway hit their upper circuit limits of 10 per cent and 20 per cent, respectively.