July 11, 2019 / 5:23 AM / a month ago

Sensex, Nifty close higher as Fed chief rekindles rate-cut hopes

The Bombay Stock Exchange building is seen from a facade in Mumbai, May 16, 2018. REUTERS/Francis Mascarenhas/Files

BENGALURU (Reuters) - Indian shares ended higher on Thursday, driven by broad-based gains and tracking strength across global equities, after dovish comments by U.S. Federal Reserve Chairman Jerome Powell reignited rate-cut hopes.

The broader Nifty closed up 0.73% at 11,582.90, while the benchmark Sensex settled 0.69% higher at 38,823.11.

Zee Entertainment Enterprises Ltd and JSW Steel Ltd were the top two gainers on the Nifty. Zee closed nearly 8% higher while JSW Steel finished the session 4.86% up.

Reporting by Chandini Monnappa in Bengaluru; Editing by Rashmi Aich

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