Sensex rises nearly 1 pct ahead of RBI policy

MUMBAI (Reuters) - The BSE Sensex and Nifty rose nearly 1 percent on Monday, marking their highest intraday level in two weeks as traders churned positions in favour of defensive stocks, especially among drug makers, a day ahead of the central bank's policy review.

Sun Pharmaceutical Industries surged as much as 9.2 percent during the day to mark a record high of 1,181 rupees, leading gains in the CNX Pharma Index.

The BSE Sensex and Nifty rose 0.86 percent each, after earlier marking their highest daily level since March 19.

(Reporting by Abhishek Vishnoi; Editing by Biju Dwarakanath)