Rate cut hopes push Sensex to near three-month high

Last Updated: Thu, May 02, 2013 10:37 hrs

Mumbai: The BSE Sensex rose on Thursday to mark its highest close since February, as interest rate-sensitive stocks gained on expectations the Reserve Bank of India (RBI) will cut interest rates on Friday, while technology shares such as TCS rose on value buying.

Mortgage lender Housing Development Finance Corp Ltd rose 1.87 percent, while Tata Consultancy Services Ltd was up 4 percent.

The BSE Sensex ended 1.19 percent higher, closing at its highest since February 4, while the broader 50-share Nifty closed up 1.17 percent.

More from Sify: