Mumbai, July 15 (IANS) Hopes of a rate cut and expectations of importing cheaper oil from Iran after it signed a nuclear deal with the world powers cheered the Indian equity markets on Wednesday, with the 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) provisionally closing more than 265 points up on Wednesday.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also provisionally closed with healthy gains. It was up 72 points or 0.85 percent up at 8,526.10 points.
The BSE Sensex, which opened at 28,022.14 points, provisionally closed at 28,198.01 points (3.30 p.m.), up 265.11 points or 0.95 percent from the previous day’s close at 27,932.90 points.
The Sensex touched a high of 28,218.37 points and a low of 27,986.48 points in the intra-day trade.