MUMBAI — The BSE Sensex closed at its highest in nearly a month, gaining for the fifth straight session on Thursday, with lenders such as State Bank of India rising after rating agency Moody's revised India's sovereign rating outlook.
Moody's revised India's sovereign rating outlook to "positive" from "stable" on Thursday, a step closer to an upgrade of the credit rating, as it expects actions by policymakers to lift the country's economic growth.
The Sensex gained 0.62 percent to 28,885.21 points, its highest closing level since March 12. Lenders such as Axis Bank, SBI, HDFC Bank, ICICI Bank led the charge and rallied in the range of 1.65 per cent to 2.88 per cent.
The Nifty ended 0.73 percent to 8,778.30 points, marking its highest close since March 5.
The Bank Nifty closed up 2.49 percent. State Bank of India closed up 2.54 percent.