BSE Sensex gains for third day; RIL leads

Reuters Market Eye - The BSE Sensex gains 0.32 percent, while the Nifty is up 0.31 percent, heading for a third consecutive session of gains after hitting 2013 lows on Friday.

However, traders warn this week's gains are likely driven by purchases of recently under-performing sectors and may not sustain ahead of the budget.

Shares in Reliance Industries gain 1.8 percent a day after the company said it will invest over $5 billion in the next three to five years with UK partner BP to boost declining output at a key natural gas field off India's east coast.

DLF shares gain 1.5 percent, extending a recent rally on continued hopes of an earnings recovery. The property developer has gained 8.6 percent in the previous two sessions.

Welspun Corp , however, fell 2.24 percent after National Stock Exchange excluded the company's shares from trading in the futures and options segment from April 26, without giving a reason.

(Reporting by Manoj Dharra)