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Indian shares rise to near 3-month high on expectations of rate cut

Source : REUTERS
Last Updated: Thu, May 02, 2013 19:27 hrs

MUMBAI, May 2 (Reuters) - Indian shares rose on Thursday to mark their highest close since February, as interest rate-sensitive stocks gained on expectations the central bank will cut interest rates on Friday, while technology shares such as TCS rose on value buying.

Mortgage lender Housing Development Finance Corp Ltd provisionally rose 1.7 percent, while Tata Consultancy Services Ltd was up 3.4 percent.

The BSE index provisionally ended 1.18 percent higher, closing at its highest since Feb. 4, while the broader 50-share NSE index closed up 1.21 percent, its highest close since Feb. 1. (Reporting by Archana Narayanan; Editing by Prateek Chatterjee)




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