BSE Sensex gains, led by blue-chips

Reuters Market Eye - The BSE Sensex is up 0.3 percent looking to snap a three-day losing streak, while the broader Nifty is 0.25 percent higher.

Gains are led by Sun Pharmaceutical Industries after brokerages upgrade the stock after it agreed to acquire Ranbaxy Laboratories for $3.2 billion.

Sun Pharma surges 7.1 percent, adding to Monday's 2.9 percent rise. Ranbaxy is up 3.9 percent.

Investors also regain appetite for blue-chips, especially interest rate-sensitive banks, after indexes had retreated from the record highs last hit on April 3.

Tata Motors gains 2.1 percent while ICICI Bank rises 0.8 percent.

Overseas investors bought shares worth 7.03 billion rupees on Monday, provisional exchange data shows, totalling nearly $4.5 billion so far in 2014.

 

(Reporting by Abhishek Vishnoi)