June 3, 2019 / 5:13 AM / 2 months ago

Sensex, Nifty jump to record close on rate cut hopes

A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas/Files

BENGALURU (Reuters) - Indian shares rose about 1.5% to record close on Monday, as weak economic growth data raised prospects of a rate cut by the central bank at its policy meeting scheduled later this week.

Both the broader NSE Nifty and the benchmark BSE Sensex gained 1.39% each, settling above the 12,000 and 40,000 levels, respectively, for the first time ever.

Hero MotoCorp Ltd advanced about 6% and was the top gainer on both the indexes. The Nifty Auto index rose over 2%.

Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu

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