Sensex rises to 4-month high on hopes of lower rates

BSE-SENSEX-RISES-TO-1-MONTH-HIGH-AUTOS-BANKS:Sensex rises to 4-month high on hopes of lower rates

The BSE Sensex rose to its highest level since April 3 on hopes the RBI will be pressured into lowering interest rates after Finance Minister P. Chidambaram said high borrowing costs were burdening consumers.

Stocks sensitive to interest rates led gains: Tata Motors rose 3.8 percent, while State Bank of India gained 2.4 percent.

The BSE Sensex rose to as high as 17,637.80 points, and was last up 1.28 percent at 17,635.48 points. The 50-share Nifty gained 1.25 percent.