Sensex gains; HDFC, Tata Motors lead

Reuters Market Eye - The Sensex is up 0.6 percent and Nifty rises 0.55 percent. Shares in Tata Motors gain 3.1 percent after unit Jaguar Land Rover (JLR) was seen posting solid January sales.

Oil and Natural Gas Corp gains 1.5 percent, marking a second day of gains after quarterly earnings beat estimates.

Shares in Kingfisher Airlines fall to the maximum daily limit of 5 percent after lenders said they would initiate recovery proceedings against the defaulting carrier.

All eyes are now on January WPI data, due on Thursday, which is expected to have eased to its lowest level in three years, due to a smaller rise in prices of manufactured goods, according to a Reuters poll.

(Reporting by Abhishek Vishnoi)