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Sensex Ends Up 266 Points; Nifty Snaps Four-day Losing Streak

Indian shares rose on Thursday, tracking firm global markets and persistent dollar's weakness after Federal Reserve Chair Jerome Powell signaled that the U.S. central bank is likely to cut interest rates soon.

The Fed is expected to reduce key U.S. borrowing costs by 25 basis points at its upcoming July 30-31 policy meeting, but likely to depend on data for any further cut after July.

The benchmark S&P BSE Sensex climbed 266.07 points or 0.69 percent to 38,823.11 while the broader NSE Nifty index ended higher by 84 points or 0.73 percent at 11,582.90, snapping a four-day losing streak.

Tata Motors, IndusInd Bank, Hero MotoCorp, JSW Steel and Zee Entertainment Enterprises soared 3-8 percent while ICICI Bank and Tech Mahindra fell more than 1 percent each.

InterGlobe Aviation declined 3.3 percent amid ongoing feud between the promoters and founders of the company.

Religare Enterprises was locked in the 10 percent upper circuit limit on news of stake sale in subsidiary Religare Finvest to TCG advisory for an undisclosed amount.

GTPL Hathway soared 20 percent on robust June quarter results.

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