MUMBAI: Equity markets ended sharply higher on Thursday, with the benchmark Sensex rising 862.23 points and the Nifty scaling 25,585.30 level, tracking a rally in global markets amid US Fed rate cut hopes.

Fresh foreign fund inflows also added to the markets' optimism.

The 30-share BSE Sensex jumped 862.23 points or 1.04 per cent to settle at 83,467.66. During the day, it zoomed 1,010.05 points or 1.22 per cent to 83,615.48.

The 50-share NSE Nifty surged 261.75 points or 1.03 per cent to 25,585.30.

From the Sensex firms, Kotak Mahindra Bank, Titan, Axis Bank, Adani Ports, Mahindra & Mahindra, Reliance Industries, Tata Motors and HDFC Bank were among the major gainers.

However, Eternal and Infosys were the laggards.

In Asian markets, South Korea's Kospi jumped 2.49 per cent, Japan's

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