Sensex heads for one-month closing high

The BSE Sensex rose on Thursday, heading for its highest close in a month, as mortgage lenders such as Housing Development Finance Corporation rose on hopes the government's push on housing would aid income. Prime Minister Narendra Modi earlier in the day launched smart cities, housing for all and urban rejuvenation schemes for Asia's third largest economy. The Sensex gained 0.5 per cent, heading for its highest close since May 22, while the Nifty rose 0.38 per cent. Both the indices are also heading for their ninth session of gains in ten. Housing sector lenders led the gainers, with HDFC rising 1.8 per cent while State Bank of India gained 1 per cent. Smaller stocks LIC Housing Finance rose 0.8 per cent, while Indiabulls Housing Finance was up 0.5 per cent. Among other lenders, Axis Bank rose 0.5 per cent and IndusInd Bank advanced 1.3 per cent, according to Reuters.