October 3, 2016 / 10:31 AM / a year ago

Indian shares rally ahead of RBI policy meeting

Oct 3 (Reuters) - Indian shares rose more than 1 percent on Monday, posting their biggest gains in nearly a month, as expectations of a rate cut by the central bank lifted lenders, while auto stocks such as Maruti Suzuki rallied after reporting strong monthly sales.

The broader NSE index ended 1.47 percent higher at 8,738.10, while the benchmark BSE index closed 1.35 percent higher at 28,243.29.

Both indexes recorded their biggest intraday percentage gains since Sept. 6. The Reserve Bank of India will announce its policy decision on Tuesday. (Reporting by Darshana Sankararaman in Bengaluru; Editing by Amrutha Gayathri)

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