Sensex hits 1-month high

MUMBAI : The BSE sensex rose on Thursday to its highest close since May 7, as improving global risk environment continued to spark a broad rally, while auto makers gained on hopes the country would not increase excise duties on diesel car sales.
The 30-share index rose 1.18% to end at a provisional 16,649.05 points, marking its fourth consecutive daily gain.
The broader 50-share NSE index rose 1.05 percent, to a provisional close of 5,049.65 points.
Banking shares, as measured by the NSE banking index, rose 2.1%, gaining for a fourth consecutive day, on continued hopes the Reserve Bank of India would cut interest rates on June 18. Axis bank, ICICI Bank and HDFC Bank each ended more than 3% each.
Auto makers, which had also benefited this week from rate cut expectations, continued gains on Thursday, with Maruti Suzuki India ending up 3.2%.