India's stock markets rose to a near 11-week high on Monday as hopes increased the central bank could cut rates by as much as 50 basis points next month after the government slashed the country's retail savings rate last week.
The benchmark BSE Sensex rose 1.33 percent and closed at 25,285.37, while the broader NSE Nifty ended up 1.31 percent at 7,704.25. Both indexes earlier hit their highest levels since Jan. 6.
Banks led the gains, with State Bank of India (SBI.NS) rising 2.9 percent and Punjab National Bank (PNBK.NS) advancing 2.5 percent.
(Reporting by Aastha Agnihotri in Bengaluru; Editing by Anand Basu)
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Published Date: Mar 21, 2016 16:15 PM | Updated Date: Mar 21, 2016 16:15 PM