Stock market LIVE updates: Upbeat global market sentiment is supporting equities on Dalal Street on Thursday. Following the US Fed Chair Powell’s remarks that the central bank could begin undertaking smaller rate hikes from December, the BSE Sensex rose over 300 points to 63,400, and the NSE Nifty50 gained 64 points to 18,844. 

The IT pack led gains on the Sensex with Tech M, Infosys, Wipro, HCL Tech, and TCS rising 1-2 per cent. On the flip side, Asian Paints, HUL, ITC, ICICI Bank, and M&M were down up to 1 per cent. 

Also read: Nifty on track to hit 20,000; Sensex target at 70,000 levels: Analysts

The broader markets, meanwhile, outperformed the benchmarks. The BSE MidCap and SmallCap indices rose up to 0.7 per cent. 

Within sectors, the Nifty IT surged 2 per cent, followed by a 1 per cent gain in the Metal index. On the downside, Auto and FMCG pockets were the sole losers. 

Among stocks, Vodafone Idea was down around 1 per cent after reports said the company has sought a loan of up to Rs 16,000 crore from SBI.