March 14, 2012 / 10:28 AM / 6 years ago

BSE Sensex provisionally ends at 3-week high

REUTERS - The BSE Sensex rose to its highest close in almost three weeks on Wednesday as banks gained amid expectations an uptick in inflation was not enough to rule out a rate cut from the RBI, while Tata Motors surged after announcing increased production at its U.K. plant.

People walk outside the Bombay Stock Exchange building February 10, 2011. REUTERS/Vivek Prakash/Files

ICICI Bank (ICBK.NS) rose a provisional 2.7 percent while State Bank of India (SBI.NS) advanced a provisional 1.3 percent ahead of the Reserve Bank of India’s policy meeting on Thursday.

Meanwhile, Tata Motors (TAMO.NS) rose 2.5 percent after unit Jaguar Land Rover said it was boosting production of two models, seen as indicating confidence about sales in the European markets.

The main 30-share BSE index provisionally gained 0.7 percent to 17,940.70 points, marking its highest close since February 24. The 50-share index provisionally rose 0.6 percent to 5,463.90, the highest close since February 23.

Reporting By Rafael Nam; Editing by Harish Nambiar

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