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Sensex shoots up over 1% after reversing early losses
Photo Credit: Reuters

Indian shares reversed early losses to end in the black on Thursday, buoyed by gains in financials and metal stocks, as investors cheered U.S. Federal Reserve's hints of possible interest rate cuts next month.

The broader NSE Nifty ended 1.2% higher at 11,831.75, while the benchmark BSE Sensex closed up 1.25% at 39,601.63.

The Fed on Wednesday suggested rate cuts might start as soon as next month, saying it was ready to take action in the face of growing economic risks.

Debt-laden Jet Airways Ltd saw huge gains towards the end of the session, closing a whopping 89.9% firmer. India's bankruptcy court is set to pass an order on Jet's insolvency case later in the day.

Financials such as Yes Bank Ltd settled 11% higher, while Indiabulls Housing Finance Ltd gained nearly 8%.

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