Sensex rises 169 points, Nifty above 11,900-mark ahead of macro data; Tata Motors rallies 7%, Yes Bank up 6%

Mumbai: Market benchmark Sensex on Thursday rose by 169 points on the back of gains in index heavyweights HDFC Bank, Kotak Bank and SBI amid positive cues from global equities.

#MarketAtClose | Market gains for 2nd day to turn positive for the week. Nifty fails to hold 12,000 seen after four sessions, ends 62 points higher; Sensex closes with a gain of 169 points at 40,582 pic.twitter.com/sOAy3DHf80

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After rallying over 300 points, the 30-share BSE Sensex ended 169.14 points, or 0.42 percent, higher at 40,581.71.

Similarly, the broader NSE Nifty settled 61.65 points, or 0.52 percent, higher at 11,971.80.

Tata Motors was the top gainer in the Sensex pack, rallying 7.17 percent, followed by Yes Bank 5.96 percent, Vedanta 3.68 percent, Tata Steel 3.29 percent, SBI 2.91 percent and Kotak Bank 1.76 percent.

On the other hand, Infosys fell 2.63 percent, ONGC 1.68 percent, HCL Tech 1.51 percent, TCS 1.20 percent and Bharti Airtel 0.95 percent.

According to traders, domestic investors following cues from global markets which advanced on the US Federal Reserve’s dovish outlook.

The Federal Reserve made no change in interest rates in an effort to maintain economic growth. Fed chief Jerome Powell said the US outlook “remains favourable despite global developments and ongoing risks” as he described the grinding US-China trade war as a drag on global growth.

Investors are also awaiting factory output data scheduled to be released later in the day, traders said.

Bourses in Hong Kong, Seoul and Tokyo ended on a positive note, Shanghai slipped into the red.

Stocks in Europe were also trading higher.

On the currency front, the rupee appreciated 21 paise against the US dollar to 70.63 (intra-day).

Brent futures, the global oil benchmark, rose 0.74 percent to $64.19 per barrel.