Sensex, Nifty at three-month high; blue chip stocks gain

Reuters Market Eye - The BSE Sensex rises around 200 points, while the Nifty is trading 70 points higher, with both indexes earlier rising to their highest intraday level since February 4.

Gains track global shares, which hit their highest level in almost five years on Tuesday on continued optimism from last week's strong U.S. jobs report.

Shares of blue chips such as ITC Ltd gain on expectations that strong portfolio flows would continue to favour India in the near term, dealers say.

Foreign funds have bought a net $680 million of Indian stocks in the three sessions to May 3, regulatory data show.

ITC gains 2.6 percent, while ICICI Bank Ltd is up 2.2 percent.

DLF Ltd rises 2.7 percent on its plans to sell up to 81 million shares through an institutional placement.