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Stock market closes on a high for second consecutive day

WION Web Team
Mumbai, Maharashtra, IndiaUpdated: Aug 01, 2017, 12:06 PM IST

Shares of automaker Eicher Motors Ltd shot up on upbeat monthly sales today. Photograph:(Reuters)

Story highlights

Tuesday's gains were also influenced by Reserve Bank of India's (RBI) expected interest rate cut set to be announced tomorrow.

The Indian stock market closed at its highest ever level for the second consecutive day today as automakers Eicher Motors Ltd shot up on upbeat monthly sales.

The NSE Nifty ended up 0.37 per cent to close at 10,114.65, while the BSE Sensex closed 0.19 per cent higher at 32,575.17.

Tuesday's gains were also influenced by Reserve Bank of India's (RBI) expected interest rate cut set to be announced tomorrow.

On Monday, the stock market had closed on a high after State Bank of India cut deposit rates on the majority of its savings accounts.