Sensex up for second day; banks lead on rate cut hopes

MUMBAI (Reuters) - The Sensex rose for a second straight day on Monday to its highest close in a month led by gains in rate-sensitive stocks such as HDFC Bank , pricing in at least a 25 basis point rate cut in the upcoming policy on May 3.

HDFC Bank provisionally rose 4.1 percent, while ICICI Bank ended 3 percent higher.

The Sensex provisionally gained 0.96 percent, while the Nifty ended up 1.01 percent. (Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)