BSE Sensex closes at 3-month high; Nifty above 8,600

Mumbai, July 16: Hopes of an RBI rate cut, cheaper oil imports and possibility of further delay in US lending rate hike propelled a barometer index of the Indian equity markets to provisionally close with gains of more than 275 points on Thursday.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) provisionally closed with gains of over 275 points or 0.98 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in the green -- with over 84 points or 0.99 percent up at 8,608.05 points.

The S&P BSE Sensex, which opened at 28,259.70 points, provisionally closed at 28,474.01 points (at 3.30 p.m.), up 275.72 points or 0.98 percent from the previous day's close at 28,198.29 points.

The Sensex touched a high of 28,478.43 points and a low of 28,245.81 points in the intra-day trade.

IANS