Sensex jumps by 638 pts, settles at 85,567.48

Benchmark Sensex jumped by 638 points on Monday following heavy buying in IT, auto and metal shares amid foreign fund inflows and a rally in global markets on hopes of further rate cuts by the US Federal Reserve.

Building on the previous session's rally, the 30-share BSE Sensex jumped 638.12 points or 0.75 per cent to settle at 85,567.48.

During the day, it surged 671.97 points or 0.79 per cent to 85,601.33.