Sensex closes 0.7 per cent up on fresh fund buying

Indian share prices rose 0.7 per cent on optimism that the US Federal Reserve would cut interest rates at its next policy review.

Indian share prices rose 0.7 per cent on Thursday on optimism that the US Federal Reserve would cut interest rates at its next policy review, dealers said.

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They also said traders were buoyed by a government decision to allow benchmark index heavyweight Reliance Industries to sell natural gas from a recent discovery at market prices.

The 30-share Mumbai stock exchange Sensex rose 109.08 points to 15,614.44.

"Local fund buying was seen, but the markets will track the US Fed meet next week," said Naresh Garg, chief investment officer with Sahara Mutual fund.

Reliance Industries rose 13.55 rupees to 2,026.5.