Sensex closes at highest in three months

MUMBAI (Reuters) - Indian shares rose about 1 percent on Thursday, marking their highest close in three months, led by banks and index heavyweight Reliance Industries , on hopes a fall in oil prices due to the Iran nuclear deal would lower import costs and interest rates.

The Sensex ended up 0.88 percent, while the Nifty, which rose above the 8,600-level, gained 0.99 percent, recording their highest close since April 16.

(Reporting by Karen Rebelo; Editing by Biju Dwarakanath)