Indian shares hit multi-month highs; financials rally

MUMBAI Thu Oct 4, 2012 6:11am EDT

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MUMBAI Oct 4 (Reuters) - India's main BSE index rose to a 15-month high, while the NSE index hit 17-month highs, after the government's reform proposals for the insurance and pension sectors sparked gains in financial stocks such as State Bank of India and ICICI Bank.

State Bank of India gained 2.2 percent, while ICICI Bank rose 3.1 percent.

The BSE index provisionally rose 1.04 percent to its highest close since July 8, 2011.

The 50-share NSE index gained 0.98 percent to its highest close since April 27, 2011. (Reporting by Manoj Dharra; Editing by Rafael Nam)

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