October 3, 2016 / 6:51 AM / 10 months ago

Sensex rallies ahead of RBI policy meeting

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai, March 4, 2015.Shailesh Andrade/Files

REUTERS - Indian shares rose more than 1 percent on Monday, posting their biggest gains in nearly a month, as expectations of a rate cut by the Reserve Bank of India lifted lenders, while auto stocks such as Maruti Suzuki rallied after reporting strong monthly sales.

The broader NSE Nifty ended 1.47 percent higher at 8,738.10, while the benchmark BSE Sensex closed 1.35 percent higher at 28,243.29.

Both indexes recorded their biggest intraday percentage gains since September 6. The RBI will announce its policy decision on Tuesday.

Reporting by Darshana Sankararaman in Bengaluru; Editing by Amrutha Gayathri

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