Nifty Settles At 18,609 In Closing Session, Sensex At 62,570

"This volatility is expected to sustain in the global market as we await the Fed policy decision and US inflation numbers due next week," said Vinod Nair, Head of Research at Geojit Financial Services.

Benchmark BSE Sensex rose by 160 points on Thursday in choppy trade following gains in select banking and auto counters amid mixed global cues.

The 30-share index gained 160 points to settle at 62,570.68 as 13 of its components advanced while 17 declined.

The barometer opened lower but later gained momentum to touch a high of 62,633.56 in the day's trade.

The broader Nifty of the National Stock Exchange advanced 48.85 points to settle at 18,609.35, with 27 of its constituents closing in the red.