Sensex closes 258 points higher amid global cues

The benchmark Bombay Stock Exchange (BSE) Sensex closed over 258 points higher on a flurry of buying by investors amid a firming trend overseas ahead of the Fed's rate decision this week.

The 30-share index rose 258.04 points, or 1 per cent, to close at 25,963.97.

The gauge had retreated from a two-week high by losing 150.77 points in the previous trading session.

On similar lines, the National Stock Exchange (NSE) Nifty closed 70.05 points or 0.89 per cent higher at Rs 7,899.15.

Sentiment was upbeat as investors widened bets tracking a firming trend at other Asian bourses, with Shanghai stocks closing up 4.89 per cent, as investors returned to the market amid speculation of state-led buying, brokers said.

Besides, a higher opening at European markets ahead of the crucial two-day Federal Reserve's meet starting today, buoyed sentiment, they added.

Bharti Airtel emerged as the top gainer on Sensex as the shares closed 2.48 per cent higher at Rs 359.10 apiece. BHEL was the top loser.

Other prominent gainers were Bajaj Auto, Axis Bank, Sun Pharma, Vedanta and Wipro. Globally, the Shanghai Composite index closed 4.89 per cent higher and Hong Kong's Hang Seng surged 2.71 per cent while Japan's Nikkei ended 0.81 per cent. European markets were also in the positive territory in early trade.