Shares close at highest level in nearly one month

MUMBAI (Reuters) - Indian shares closed at their highest level in nearly one month on Wednesday as blue chips advanced on resumption of buying by foreign investors, while forecast of a timely monsoon continued to raise hopes the central bank would lower interest rates in June.

Foreign portfolio investors, key behind Indian stocks hitting record high in March, have bought cash shares worth nearly $300 million in the past three days, Thomson Reuters calculations showed. They had sold about $2.5 billion worth of shares over the last four weeks.

The benchmark BSE Sensex and the broader Nifty gained 0.69 percent each, marking their highest close since April 22.

(Reporting by Abhishek Vishnoi; Editing by Anand Basu)