Sensex Rises 127 Points to End at Over 1-Month High

The BSE Sensex and Nifty rose on Tuesday to their highest close in more than a month, with drugmakers getting a boost after Ranbaxy Laboratories reported its first profit in six quarters.

Lenders also extended recent gains on rising expectations the Reserve Bank of India would cut rates earlier than expected next year. State Bank of India rose 2.4 per cent, while ICICI Bank Ltd ended higher 1.8 per cent.

Ranbaxy surged over 6 per cent, while Sun Pharmaceutical Industries, which is in the process of acquiring it, rose 4.2 per cent.

The benchmark Sensex rose 127 points to end at 26,880 while the broader Nifty gained 0.45 per cent, with both marking their highest close since September 22.

Copyright: Thomson Reuters 2014