BSE Sensex extends gains; Infosys, ICICI Bank lead

Reuters Market Eye - The Nifty gains 0.7 percent, while the benchmark Sensex rises 0.74 percent, heading for a second consecutive session of gains.

Gains come after both the Dow and the S&P 500 end at record highs, while Asian shares are further underpinned by data showing a surge in local currency loans in March.

ICICI Bank gains 3.7 percent as valuations start looking attractive to many after it fell 15.7 percent between January 31 and Wednesday, dealers say. IT shares gain for a second day as previous losses are seen as overdone: Infosys gains 3.3 percent ahead of fiscal 2013 earnings on Friday.

 

HCL Technologies Ltd rises 3.1 percent, while Tata Consultancy Services is up 0.3 percent.

Shares in Tata Motors rise 3.5 percent on hopes unit Jaguar Land Rover (JLR) will report solid global wholesales for March, which are due later in the day.

(Reporting by Abhishek Vishnoi)